- GoHealth (GOCO, Financial) secures lender approval for credit agreement amendments.
- The company extends its revolving credit maturity to September 30, 2025.
- Amendment supports broader financing plan addressing going concern issues.
GoHealth, Inc. (NASDAQ: GOCO), a prominent player in the Medicare Advantage insurance marketplace, has successfully negotiated an amendment to its existing credit agreement. This amendment, secured with its lenders, provides necessary covenant adjustments and extends the maturity of its revolving credit facility through September 30, 2025. This move marks a significant step for GoHealth in addressing its recent going concern position and aims to reinforce its financial foundation for future growth.
The amendment also grants GoHealth consent to explore receivables financing and potential securitization transactions. These financial strategies form part of a comprehensive financing plan designed to provide greater flexibility and facilitate sustainable, cash-generating growth in the long term.
According to CEO Vijay Kotte, the support demonstrated by stakeholders across the capital structure through this amendment enables GoHealth to focus on its strategic priorities. For nearly a decade, the company has been a leader in Medicare consumer support, assisting users in their Medicare Advantage plan enrollment process.
Additional details related to the credit amendment will be disclosed in GoHealth's upcoming Current Report on Form 8-K, scheduled to be filed with the Securities and Exchange Commission on June 30, 2025.
