Ex-UnitedHealth CEO launches new insurance startup

Robert Sheehy, former CEO of UnitedHealthcare, has co-founded a health insurance startup called Bright Health.

The company will offer tech-enabled health insurance plans, with the first customers to be signed up for the 2017 plan year.

"We are realigning the broken payer-provider relationship, focusing on the consumer and reimagining how technology can simplify the healthcare experience from beginning-to-end," said Mr. Sheehy, who serves as CEO of Bright Health. "Making that happen and starting a new health plan is no small feat, but we're confident we have the right team and model to create real and necessary change."

The company's CMO Tom Valdivia, MD, previously served as chief health consumer officer of Definity Health, a UnitedHealth Group company. Bright Health President Kyle Rolfing is the co-founder and former CEO of Definity Health and RedBrick Health, a health technology and services company.

The company has secured $80 million in series A funding, which it will use to support its nationwide rollout to the individual health insurance marketplace.

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