Devoted Health secures $1.18 billion in financing for expansion

Devoted Health, a Medicare Advantage insurer and care-delivery company, has secured a financing package valued at approximately $1.18 billion. The transaction, completed on October 1, includes $555 million in Series G primary financing, with an additional $622 million committed for a shareholder tender offer expected to close in the fourth quarter.

The company intends to use the new primary capital to support its rapid expansion into more states and counties as its Medicare membership grows. This follows a previous equity financing event in January 2026, where the company raised $366 million through Series F and Series F-Prime rounds.