NeueHealth Acquires Full Ownership of Centrum Health
October 30 2024 - 5:45AM
Business Wire
NeueHealth, Inc. (“NeueHealth” or the “Company”) (NYSE: NEUE),
the value-driven healthcare company, today announced that Centrum
Health, one of the Company’s value-driven clinic brands, became a
wholly owned subsidiary through the Company’s acquisition of the
remaining 25% equity interest of the business that it did not
already own. This action simplifies NeueHealth’s corporate
structure, streamlining operations to support its ongoing focus on
advancing its value-driven, consumer-centric care model.
“We are pleased to announce this transaction as it further
positions NeueHealth to take the lead in creating a more
coordinated, seamless healthcare experience for all consumers,”
said Mike Mikan, President and CEO of NeueHealth. “We look forward
to continuing to drive value in healthcare for all as we look to
build on our success in 2025 and beyond.”
More information regarding the key terms will be included in a
Form 8-K to be filed by NeueHealth with the Securities and Exchange
Commission.
About NeueHealth
NeueHealth is a value-driven healthcare company grounded in the
belief that all health consumers are entitled to high-quality,
coordinated care. By uniquely aligning the interests of health
consumers, providers, and payors, NeueHealth helps to make
healthcare accessible and affordable to all populations across the
ACA Marketplace, Medicare, and Medicaid. NeueHealth delivers
high-quality clinical care to over 500,000 health consumers through
owned clinics and unique partnerships with over 3,000 affiliated
providers. We also enable independent providers and medical groups
to thrive in performance-based arrangements through a suite of
technology and services scaled centrally and deployed locally. We
believe our value-driven, consumer-centric care model can transform
the healthcare experience and maximize value across the healthcare
system. For more information, visit: www.neuehealth.com.
Forward-Looking Statements
Statements made in this release that are not statements of
historical fact, including statements about our beliefs and
expectations, are forward-looking statements and should be
evaluated as such. Forward-looking statements include information
concerning possible or assumed future results of operations,
including descriptions of our business plan and strategies. These
statements often include words such as “anticipate,” “expect,”
“plan,” “believe,” “intend,” “project,” “forecast,” “estimates,”
“projections,” “outlook,” “ensure,” and other similar expressions.
These forward-looking statements include any statements regarding
our plans, expectations and financial guidance. Such
forward-looking statements are subject to various risks,
uncertainties and assumptions. Accordingly, there are or will be
important factors that could cause actual outcomes or results to
differ materially from those indicated in these statements. Factors
that might materially affect such forward-looking statements
include: our ability to continue as a going concern; our ability to
comply with the terms of our credit facilities or any credit
facility into which we enter in the future; our ability to receive
the remaining proceeds from the sale of our Medicare Advantage
business in California in a timely manner; our ability to obtain
any short or long term debt or equity financing needed to operate
our business; our ability to quickly and efficiently complete the
wind down of our remaining Individual and Family Plan (“IFP”) and
MA businesses, including by satisfying liabilities of those
businesses when due and payable; potential disruptions to our
business due to corporate restructuring and any resulting headcount
reduction; our ability to accurately estimate and effectively
manage the costs relating to changes in our business offerings and
models; a delay or inability to withdraw regulated capital from our
subsidiaries; a lack of acceptance or slow adoption of our business
model; our ability to retain existing consumers and expand consumer
enrollment; our and our care partner’s abilities to obtain and
accurately assess, code, and report risk adjustment factor scores;
our ability to contract with care providers and arrange for the
provision of quality care; our ability to obtain claims information
timely and accurately; the impact of any pandemic or epidemic on
our business and results of operations; the risks associated with
our reliance on third-party providers to operate our business; the
impact of modifications or changes to the U.S. health insurance
markets; our ability to manage any growth of our business; our
ability to operate, update or implement our technology platform and
other information technology systems; our ability to retain key
executives; our ability to successfully pursue acquisitions,
integrate acquired businesses, and quickly and efficiently divest
businesses as needed; the occurrence of severe weather events,
catastrophic health events, natural or man-made disasters, and
social and political conditions or civil unrest; our ability to
prevent and contain data security incidents and the impact of data
security incidents on our members, patients, employees and
financial results; our ability to comply with requirements to
maintain effective internal controls; our ability to adapt to
mitigate risks associated with our ACO businesses, including any
unanticipated market or regulatory developments; and the other
factors set forth under the heading “Risk Factors” in the Company’s
reports on Form 10-K, Form 10-Q, and Form 8-K (including all
amendments to those reports) and our other filings with the SEC.
Except as required by law, we undertake no obligation to update
publicly any forward-looking statements for any reason after the
date of this release to conform these statements to actual results
or changes in our expectations.
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version on businesswire.com: https://www.businesswire.com/news/home/20241030110559/en/
Investor Contact: IR@neuehealth.com
Media Contact: media@neuehealth.com
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