Transaction further strengthens balance sheet and provides additional funding to invest in new technologies that will fuel the expansion of GoHealth’s beneficiary-centric enrollment and engagement platform
CHICAGO, Sept. 26, 2022 /PRNewswire/ — GoHealth, Inc. ( Nasdaq: GOCO), a leading health insurance marketplace and Medicare-focused digital health company, announced that it has closed a $50 million private investment. The funding strategically expands GoHealth’s shareholder base, enhances its already strong balance sheet as the Company focuses on driving strong cash flow in the near term, enables further investment in new technologies and strategic initiatives, enhances its multi-payer marketplace, and expands its Encompass platform, a revolutionary technology-driven approach to purchasing Medicare Advantage plans. Through unmatched proprietary technology and consumer insights, Encompass supports enrollment and engagement throughout the care management model, helping to solve a critical need in the marketplace and driving positive outcomes at scale.
“We are pleased to receive this investment from two significant partners who are sophisticated investors,” said Vijay Kotte, CEO of GoHealth. “As we continue our Encompass-driven business transformation, this additional funding will empower us to deliver higher quality customer-service and enhance the differentiated value we bring to the market. We look forward to strengthening our multi-payer marketplace and further improving our ability to help millions of Medicare beneficiaries understand an ever-growing range of coverage alternatives.”
Kotte continued, “GoHealth is extending the role of the broker beyond traditional enrollment by driving continuous, high-quality engagement with beneficiaries and aligning incentives around retention. We are going to market in unique ways, and by making health insurance more accessible and easier to understand, GoHealth has established itself as a top choice for insurance advice in the U.S. We look forward to building on our position for the benefit of all our valued stakeholders.”
More details regarding the investment are included in the Company’s Form 8-K filed today with the U.S. Securities and Exchange Commission. Centerview Partners LLC served as GoHealth’s financial advisor and Sidley Austin LLP as GoHealth’s legal advisor in connection with the transaction.
About GoHealth, Inc.
As a leading health insurance marketplace and Medicare-focused digital health company, GoHealth’s mission is to improve access to healthcare in America. Enrolling in a health insurance plan can be confusing for customers, and the seemingly small differences between plans can lead to significant out-of-pocket costs or lack of access to critical medicines and even providers. GoHealth combines cutting-edge technology, data science and deep industry expertise to match customers with the healthcare policy and carrier that is right for them. Since its inception, GoHealth has enrolled millions of people in Medicare plans and individual and family plans. For more information, visit https://www.gohealth.com/.
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SOURCE GoHealth, Inc.