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Zing Health files for $30 million debt and warrant offering
The Medicare Advantage insurer said $22.5 million of the $30 million offering is already committed by two investors.
Zing Health, a Chicago-based Medicare Advantage insurer co-founded in 2019, filed a Form D on Sept. 2 for a $30 million offering, Coverager reports. The filing lists Zing Health Consolidator, Inc. and Zing Health Enterprises, LP as co-issuers, with CEO Andrew Clifton signing for both entities.
Coverager reports that the offering is structured as debt and warrants rather than equity. The first sale occurred on Aug. 21, and of the $30 million sought, $22.5 million has already been committed by two investors.
The latest financing marks a shift from Zing’s earlier funding activity, including a $140 million equity raise in September 2024. Coverager reports that backers in that round included Newlight Partners, Town Hall Ventures, CRG, Leavitt Equity Partners, First Trust Capital Partners, and Health 2047 Capital Partners.
Zing offers Medicare Advantage plans focused on underserved communities, and Coverager reports it has about 157 employees based on LinkedIn data. The new investors join Newlight Partners and Health2047 as the company continues its efforts to expand Medicare Advantage products for older Americans.