Clover Health Investments, Corp is an American health care company founded in 2014.
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15 Facts About Clover Health
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Clover Health provides Medicare Advantage insurance plans and operates as a direct contracting entity with the US government.
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Clover Health manages care for Medicare beneficiaries in 11 states and started trading publicly on January 8,2021.
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Clover Health launched a home-based primary care program for homebound members in 2017 and partnered with Spiras Health and Upward Health in 2021 to expand the program, designed to reduce costs and hospitalizations.
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In 2018, Clover Health partnered with MindMate, an app developer that makes games designed to maintain or improve cognitive function in older adults.
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Clover Health partnered with Genentech to study the relationship between genetics and the risk of ocular disease.
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In February 2021, the short seller Hindenburg Research released a report alleging Clover Health was under investigation by the Department of Justice, and that it had failed to disclose the investigation to investors before going public.
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Clover Health responded to the report and said it did not need to disclose the inquiry because it was determined to be immaterial in filings with the Securities and Exchange Commission by lawyers of Clover Health, the initial public offering underwriters, and third-party attorneys.
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From 2015 to 2017, Clover Health ran a series of venture capital funding rounds, receiving funding from First Round Capital, Sequoia Capital, and Greenoaks Capital.
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Clover Health began trading on the NASDAQ under the ticker CLOV on January 8,2021.
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Clover Health ended its first day on the public market with a value of about $7 billion.
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Later in 2021, attracted by the significant short interest, Clover Health became a meme stock and its stock price rose significantly; before falling back; as of June 2022 the share price remains significantly below where it went public.
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Clover Health offers Medicare Advantage plans in "largely rural or underserved areas".
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Clover Health is led by chief executive officer Vivek Garipalli and president and chief technology officer Andrew Toy.
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Clover Health created a machine learning software platform called the Clover Assistant to offer care recommendations to primary care physicians and alert them about medical events, such as if a patient has picked up their prescription.
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