Datapoint: Friday Health Plans Scores $160 Million Investment
Startup insurer Friday Health Plans last week said it has accepted $160 million in equity investments led by Vestar Capital Partners and Leadenhall Capital Partners, and will use the funds to expand into new territories and build its small group product line. As of the third quarter of 2020, the Denver-based insurer enrolled 14,338 members in Colorado, with 75.4% enrolled in an individual commercial risk-based plan. The company in February reported membership gains of 400%, to about 75,000 lives, following expansion if its Affordable Care Act exchange offerings to Nevada, New Mexico and Texas.
Source: AIS’s Directory of Health Plans