The proceeds from this round will be used to rapidly accelerate the company’s growth and expansion associated with its recent announcement that its personalized health plan will be offered on a fully-insured basis to employers with more than 50 employees, launching immediately in the state of Florida. Bind expects to serve more than 30 states with its fully-insured offering by year-end 2021.
“The sale of St Andrew’s represents an important strategic milestone for BOQ. We are delighted to have secured a buyer that has a long term vision for the business which includes meeting the continued obligations of policyholders. The divestment enables us to focus on our niche customer segments while simplifying our business model.” - Managing Director and CEO, George Frazis.