GoHealth secured $115 mn in new financing and overhauled its board as it moves to reinforce its standing in the Medicare market.
The deal includes $80 mn in new senior secured superpriority term loans and $35 mn in roll-up loans. This funding arrives ahead of the annual Medicare enrollment window, providing operational support and capital for strategic execution.
The amended credit agreement defers principal repayments until 2026 and resets financial covenants. It also opens up $250 mn in debt capacity, giving the company room to pursue large-scale transactions.
GoHealth issued more than 4.7 mn Class A shares to lenders as part of the package. Simultaneously, three directors resigned and three new board members joined.
GoHealth Inc. operates a digital marketplace specializing in Medicare Advantage, Medigap, Medicare Part D, individual health insurance, and final-expense coverage.
It helps users navigate complex Medicare decisions with personalized guidance from licensed agents—at no cost to consumers
CEO Vijay Kotte said the financing and leadership changes align with GoHealth’s long-term focus on shareholder value.
He noted that the company now has access to immediate capital and room for expansion, supporting its ability to grow in a market undergoing consolidation.
Our strategic capital and governance actions reflect our commitment to long-term stockholder value creation and our belief that GoHealth is structurally and strategically positioned to lead in a consolidating industry.
GoHealth CEO Vijay Kotte
With the new credit facility and the access to immediate and expandable capital it provides, we believe we are operating from a position of strength as we continue to serve the Medicare market, pursue disciplined growth and assess transformative opportunities,” Vijay Kotte said.
CFO Brendan Shanahan highlighted that the revised credit structure allows for more financial agility. The arrangement supports both current goals and potential transactions, giving the company room to move decisively.
The amendment to our existing credit agreement provides important financial flexibility. Through this strategic financing arrangement, we have the ability to evaluate and pursue strategic transactions. We believe these enhancements position us to act decisively and responsibly in support of our strategic objectives.
GoHealth CFO Brendan Shanahan
GoHealth operates a platform that combines licensed agents with proprietary tech. The company has built its Medicare services around over 20 years of insurance data, helping millions choose coverage.
Founded in 2001 in Chicago as Norvax, it began by building broker tools and online health insurance comparators. It gained government approval in 2012 to help enroll consumers in federally subsidized plans, food in-line with the Affordable Care Act (ACA) exchanges. Today, its operations span Chicago, Charlotte (NC), Lindon (UT), and Bratislava (Slovakia).
GoHealth bridges health insurance complexity and consumer clarity through technology. Their engineering efforts—involving ML, AI, and real-time data systems—equip agents to provide tailored, efficient Medicare guidance.
With innovations like PlanFit and PlanGPT, the company reinforces its role as a modern insurtech leader.
Built on a large language model (LLM), PlanGPT lets agents query complex documents like Evidence of Coverage to get quick, accurate summaries across up to three plans. This tool speeds up the guidance process, cutting average call times by around 10 minutes during the 2024 Annual Enrollment Period.
