Insurance that cares…
Devoted Health is a next-generation Medicare Advantage plan guided by a deep belief that every member should be treated like we would treat our own family. The most recent $217 million Series C roundfollows $300 million raised for Series B. The terms surrounding the Series C include a senior liquidation preference to all other preferred, and conventional convertible meaning they will not participate with common stock if there are remaining proceeds. The most recent price per share is $17.7104, an up round from Series B at $10.2528.
After just one year of administering health plans, membership in Devoted Health has grown to 16,000 individuals, making Devoted one of the fastest growing Medicare Advantage companies in the United States. Devoted currently offers plans in Texas and Florida and is preparing to expand their plan offerings to new states in the coming year. To help support that growth, Devoted Health currently has more than 400 employees across multiple states and plans to hire around 300 more in 2020.
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Bloomberg Ticker: PUNICORN
Reuters Ticker: .PUNICORN