Anthem invests $35M in neatly being insurance brokerage GoHealth

Anthem invests $35M in neatly being insurance brokerage GoHealth

Weeks after laying off one-fifth of its personnel, neatly being insurance brokerage GoHealth closed a $50 million non-public funding spherical.

Per a filing with the Federal Communications Price, more than half of of the funding came from the Indianapolis-based fully insurance huge Anthem, which currently re-branded to Elevance Health.

In a free up, GoHealth acknowledged the capital will fuel extra investments in novel applied sciences and amplify the neatly being of its stability sheets.

The infusion comes after the firm laid off roughly 800 agents and abet workers early closing month. GoHealth generated $270.6 million in earnings at some level of the first quarter, however its losses elevated six-fold to $37.2 million.

The firm acknowledged the exterior funding “enhanced its already right stability sheet.”

Fetch Licensed Healthcare’s app to cease urged when industry news breaks.

Some insurance corporations maintain reined in their use of brokers this year, with marketplace insurers Molina Healthcare, Elevance Health, some Blue Unsightly and Blue Defend carriers, Shiny Health Neighborhood and Oscar Health cutting commissions to agents and brokers in obvious states.

In the intervening time, the acquire brokerage pickle has attracted consideration from non-public equity and endeavor capital merchants, drawn to propping up startups or consolidating and digitizing self sustaining operators.

Per the Digital Health Enterprise & Technology database, digital Medicare broker Chapter raised $44 million in a Sequence B spherical this year led by Addition, with contribution from Narya Capital, a endeavor capital outfit co-founded by  creator J.D. Vance, the Republican Senate candidate in Ohio. Bain Capital invested $150 million to start out the acquire Medicare Again brokerage Reinforce Health closing year. On-line Medicare blueprint seller EasyHealth raised $135 million in Sequence A funding closing year.

This story first seemed in Digital Health Enterprise & Technology.