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Astrana Health Inc. (NASDAQ: ASTH) is a pioneering healthcare company based in Alhambra, California, with a mission to deliver high-quality, cost-effective medical care through a patient-centered and physician-centric approach. The company focuses on population health management and care coordination, especially for senior patients and those with multiple chronic conditions.
Astrana operates an integrated healthcare delivery platform that leverages proprietary technology to enable providers to participate successfully in value-based care arrangements. This platform is designed to empower physicians and care providers to deliver improved patient outcomes while managing healthcare costs effectively.
With over 10,000 providers and serving approximately one million Americans, Astrana's network includes management services organizations (MSOs), independent practice associations (IPAs), accountable care organizations (ACOs), and various care delivery entities across primary, multi-specialty, and ancillary care. The company’s subsidiaries and affiliates work cohesively to ensure that patients receive coordinated and comprehensive medical care.
In the recent financial year ending December 31, 2023, Astrana demonstrated robust financial performance with significant revenue growth, reflecting the scaling of its unique care model. The company’s strategic roadmap focuses on expanding its membership base, increasing accountability in value-based contracts, empowering providers, and executing strategic acquisitions.
Among its recent achievements, Astrana reported a 20% revenue increase and a 13% growth in net income attributable to the company for the first quarter of 2024. The company's consistent execution of its strategic initiatives has enabled it to achieve sustainable growth and profitability while maintaining a strong focus on high-quality patient care.
Astrana also announced upcoming financial results for the first quarter ending March 31, 2024, which will be discussed in a conference call scheduled for May 7, 2024. Investors and stakeholders can access the call via online webcast or dial-in numbers provided on Astrana’s website.
For more information about Astrana Health Inc., please visit www.astranahealth.com.
Astrana Health (NASDAQ: ASTH) has announced a definitive agreement to acquire Collaborative Health Systems (CHS), a management services organization serving over 129,000 beneficiaries across 17 states and a company of Centene (NYSE:CNC). This acquisition aims to expand Astrana's payer-agnostic care delivery capabilities and empower CHS' providers. The deal combines Astrana's technology platform and care model with CHS's provider base and payer partnerships, potentially accelerating Astrana's goal of organizing providers and enhancing patient healthcare experiences.
CHS has a complementary provider footprint in key markets including Connecticut, Georgia, Maryland, New Mexico, Virginia, and Texas. Astrana plans to leverage its Care Enablement platform to improve patient outcomes. The transaction is expected to close by year-end, subject to regulatory approvals. Financial details will be updated post-closure, with more information to be discussed during Astrana's August 7 quarterly earnings presentation.
Astrana Health, Inc. (NASDAQ: ASTH) has announced the schedule for its 2024 Second Quarter Financial Results release and conference call. The company, a leading provider-centric, technology-powered healthcare organization, will release its financial results for the quarter ended June 30, 2024, after the stock market closes on Wednesday, August 7, 2024. A conference call to discuss these results is scheduled for 2:30 p.m. PT/5:30 p.m. ET on the same day.
Participants can join the call using the dial-in numbers (888) 437-3179 or (862) 298-0702. An accompanying slide presentation will be available on the company's website. For those unable to attend the live call, a webcast will be accessible at the provided link, with a recording available shortly after the call concludes.
Astrana Health (NASDAQ: ASTH) and Elation Health have formed a strategic partnership to empower primary care providers in value-based care. The collaboration aims to scale risk-bearing entities, including accountable care organizations and clinically integrated networks. Elation will provide its EHR platform, practice transformation, and billing technology, while Astrana will deploy its value-based care platform and enablement solutions.
As a first example, Astrana will support an existing provider organization in Hawai'i, working with over 100 primary care providers serving 20,000+ primarily Medicare patients. Providers are expected to onboard into Astrana's Care Enablement platform by the end of Q3 2024. This partnership aims to integrate Elation's EHR technology with Astrana's value-based care infrastructure to enhance member experience, improve outcomes, and lower costs.
Astrana Health (NASDAQ: ASTH) and Anthem Blue Cross have announced a strategic partnership to enhance healthcare access and quality for their shared members. This collaboration aims to address social and health inequities in underserved communities. As part of the initiative, Astrana will open and manage clinics exclusively for Anthem Blue Cross and Allied Pacific IPA members, offering walk-in visits, telemedicine, and online scheduling.
The partnership's first collaborative care clinic has opened in Whittier, California, serving Anthem Blue Cross and Allied Pacific IPA members with HMO plans. The facility focuses on comprehensive health assessments, preventive care, and chronic disease management. This partnership represents both organizations' commitment to improving healthcare accessibility and quality in previously underserved areas.
Astrana Health, a healthcare technology company listed on NASDAQ as ASTH, announced its participation in three upcoming investor conferences. The Leerink Healthcare Crossroads Conference will take place in Austin on May 29, 2024, featuring a fireside chat at 1:00pm CT. The William Blair 44th Annual Growth Stock Conference will occur in Chicago on June 5, 2024, with a presentation at 4:40pm CT. Lastly, the Truist Healthcare Disruptors & Digital Health Summit will be held in New York on June 25, 2024, including a panel presentation at 3:30pm ET. Webcast links for these events will be available on Astrana Health's investor relations website.
Astrana Health (NASDAQ: ASTH) announced its participation in the BofA Securities Health Care Conference on May 16, 2024, in Las Vegas.
The event will feature a fireside chat with company leadership at 10:00am PT. This participation underscores Astrana Health's commitment to engaging with investors and discussing its technology-powered healthcare solutions aimed at delivering accessible, high-quality care. The webcast link will be available on the company's website in the 'IR Calendar' section.
Astrana Health, Inc. reported strong financial results for the first quarter of 2024, with revenue growth of 20%, net income up 13%, and adjusted EBITDA rising by 42% compared to the previous year. The company saw solid membership growth, totaling approximately one million lives managed. Astrana successfully closed major acquisitions, enabling it to take on more responsibilities and expand its services. The company is on track to continue its growth trajectory throughout the year.
Astrana Health, Inc. has scheduled the release of its 2024 first-quarter financial results for March 31, 2024, after the stock market closes on May 7, 2024. The company will host a conference call on the same day at 2:30 p.m. PT/5:30 p.m. ET to discuss the results. Participant dial-in numbers are (888-437-3179) or (862-298-0702).
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