Bright Health Group Inc. (NYSE: BHG), a startup insurance provider that once held national ambitions, announced Tuesday that it would shut down most of its insurance operations, instead focusing on providing care in just a few states.
The Bloomington-based company, which had been strapped for cash after losing more than $400 million in the first six months of 2022, also said that it has raised another $175 million in convertible preferred stock — enough to take it to profitability, Bright Health…
