Astrana Health ACOs Deliver $120.4 Million in Gross Shared Savings in 2024 Performance Year

Rhea-AI Summary

Astrana Health (NASDAQ: ASTH) reported that its eight affiliated Accountable Care Organizations generated $120.4 million in gross shared savings in the 2024 performance year. All eight ACOs produced net shared savings, including five in MSSP and three in ACO REACH, serving nearly 100,000 Medicare beneficiaries.

Astrana highlighted that Astrana Care Partners ACO (A5450) ranked 7th of 476 MSSP ACOs nationwide in net shared savings per beneficiary in its first year. The company supports over 20,000 providers and about 1.55 million patients, reported $3.18 billion of fiscal 2025 revenue and $205.4 million adjusted EBITDA, and grew revenue 56% year over year in Q1 2026.

Positive

• $120.4 million gross shared savings from ACOs in 2024 performance year
• All 8 affiliated ACOs achieved net shared savings
• Nearly 100,000 Medicare beneficiaries served across Astrana ACOs
• Astrana Care Partners ACO ranked 7th of 476 MSSP ACOs in net savings per beneficiary
• Supports 20,000+ providers and about 1.55 million patients nationwide
• Fiscal 2025 revenue $3.18 billion and adjusted EBITDA $205.4 million
• Q1 2026 revenue growth of 56% year over year

Negative

• None.

News Market Reaction – ASTH

+1.63%

3 alerts

+1.63% Session close to close

$2.32B Market Cap

0.2x Rel. Volume

In the Jul 13 session, ASTH gained 1.63%, reflecting a mild positive market reaction. Our momentum scanner triggered 3 alerts that day, indicating moderate trading interest and price volatility.

Data tracked by StockTitan Argus on the day of publication.

Market Context

Astrana’s report of $120.4 million in 2024 ACO shared savings highlights the scale of its value-base...

Analysis

Astrana’s report of $120.4 million in 2024 ACO shared savings highlights the scale of its value-based platform, supported by prior revenue and EBITDA growth. Investors may watch sustainability of savings and execution as the company expands its AI-enabled network.

Key Figures

Gross shared savings: $120.4 million Affiliated ACOs: 8 ACOs Medicare beneficiaries: Nearly 100,000 +5 more

8 metrics

Gross shared savings $120.4 million 2024 performance year ACOs

Affiliated ACOs 8 ACOs All generated shared savings in 2024 performance year

Medicare beneficiaries Nearly 100,000 Served across eight affiliated ACOs in 2024 performance year

MSSP ACO ranking 7th of 476 Astrana Care Partners ACO net shared savings per beneficiary, first performance year

Supported providers More than 20,000 Providers on Astrana platform

Patients served 1.55 million Patients cared for through Astrana partnerships

Fiscal 2025 revenue $3.18 billion Companywide revenue FY 2025

Fiscal 2025 adjusted EBITDA $205.4 million Adjusted EBITDA FY 2025

Historical Context

5 past events · Latest: Jun 04 (Positive)

Pattern 5 events

Date	Event	Sentiment	24h Move	Catalyst
Jun 04	Fortune 1000 recognition	Positive	+0.4%	First-time inclusion in 2026 Fortune 1000 on strong 2025 revenue growth.
May 12	Leadership appointment	Positive	+1.9%	Appointment of Interim National Medical Director to oversee population health initiatives.
May 11	Partnership announcement	Positive	+2.7%	Collaboration with Physician Association of California to support independent primary care.
May 07	1Q26 earnings report	Positive	+8.9%	Strong Q1 2026 revenue, EBITDA, net income and free cash flow growth with guidance reiterated.
Apr 21	Earnings date notice	Neutral	+3.5%	Scheduling of Q1 2026 results release and conference call details.

24h Move is the share-price change in the day after each event; other market factors may also have contributed.

Pattern Detected

Recent positive corporate milestones and earnings updates have generally coincided with positive one-day price reactions for Astrana.

Key Terms

accountable care organizations, medicare shared savings program, aco reach, adjusted EBITDA, +1 more

5 terms

accountable care organizations medical

"announced that its Accountable Care Organizations (ACOs) generated $120.4 million"

Accountable care organizations are groups of doctors, hospitals and other health providers that agree to coordinate patient care and share financial responsibility for costs and quality. Think of them as a team that gets a single budget for a patient’s care and is rewarded for keeping people healthy and spending less; for investors, ACOs change how providers earn revenue, shift financial risk, and can influence future margins and payer contracts.

medicare shared savings program medical

"five participating in the Medicare Shared Savings Program (MSSP)"

A Medicare Shared Savings Program (MSSP) is a government program that lets groups of doctors, hospitals or other healthcare providers team up to manage a patient population’s care and share any Medicare savings they generate while meeting quality targets. For investors, it matters because participation can change a provider’s revenue mix, create incentives to reduce costs and improve outcomes, and therefore affect profitability and risk much like a bonus plan that rewards both efficiency and quality.

aco reach medical

"three participating in the ACO Realizing Equity, Access and Community Health (ACO REACH) model"

ACO REACH is a Medicare program where groups of doctors, hospitals or health providers take joint responsibility for the cost and quality of care for a defined patient population, sharing financial gains or losses based on performance. For investors it matters because participation can shift a provider's revenue model from fee-for-service to performance-based payments, changing profit margins, cash flow predictability and exposure to patient-cost risk — like switching from hourly work to a results-based contract.

adjusted EBITDA financial

"generated $3.18 billion in revenue and $205.4 million in adjusted EBITDA(1)"

Adjusted EBITDA is a way companies measure how much money they make from their core operations, like running a business, by removing certain costs or income that aren’t part of regular business activities. It helps investors see how well a company is doing without distractions from unusual expenses or gains, making it easier to compare companies or track performance over time.

value-based care medical

"enable providers to succeed in value-based care at scale"

A health-care delivery approach that rewards providers for keeping patients healthy and improving outcomes instead of charging for each test or visit. For investors, it matters because it shifts where profits and losses come from—favoring providers and technologies that lower long-term costs, prevent complications, and demonstrate measurable results; think of it like paying a contractor only when the house stays sound, which changes who wins and loses financially.

AI-generated analysis. How Rhea-AI works. Not financial advice.

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All Eight ACOs Achieve Net Shared Savings

ALHAMBRA, Calif., July 13, 2026 /PRNewswire/ -- Astrana Health, Inc. ("Astrana," and together with its subsidiaries and affiliated entities, the "Company") (NASDAQ: ASTH), a physician-centric, technology-enabled healthcare company empowering providers to deliver accessible, high-quality, and high-value care to all, today announced that its Accountable Care Organizations (ACOs) generated $120.4 million in gross shared savings during the 2024 performance year.

All eight of Astrana's affiliated ACOs generated shared savings, including five participating in the Medicare Shared Savings Program (MSSP) and three participating in the ACO Realizing Equity, Access and Community Health (ACO REACH) model, demonstrating the strength and consistency of Astrana's physician-led value-based care platform and its commitment to improving outcomes for patients and providers across the nation.

"Generating shared savings across all eight of our affiliated ACOs is a powerful validation of our physician-centric model and the strength of the infrastructure we provide to our partners," said Brandon Sim, President and CEO of Astrana Health. "Our integrated platform brings together AI-enabled technology, care management, analytics, and operational infrastructure to enable providers to succeed in value-based care at scale. As more physicians transition to value-based care, we believe our platform is uniquely positioned to help them succeed while delivering better outcomes at a lower total cost of care."

2024 Performance Year Highlights

• $120.4 million in gross shared savings
• 100% of Astrana's eight affiliated ACOs generated shared savings
• Nearly 100,000 Medicare beneficiaries served across Astrana's eight affiliated ACOs
• Astrana Care Partners ACO (A5450) ranked seventh among 476 MSSP ACOs nationwide in net shared savings per beneficiary in its first performance year

These results further validate Astrana's broader physician enablement platform, which supports providers across Medicare, Medicaid, Commercial, and ACA populations.

Today, Astrana supports more than 20,000 providers caring for approximately 1.55 million patients through partnerships with more than 20 payers nationwide. In fiscal year 2025, the Company generated $3.18 billion in revenue and $205.4 million in adjusted EBITDA⁽¹⁾, underscoring the scale and durability of its physician-centric, technology-enabled operating model. Astrana continues to expand its AI-enabled platform in 2026, growing revenue 56% year over year in the first quarter while empowering more providers to succeed in value-based care.

Astrana's 2024 performance contributes to the broader momentum in Medicare's accountable care programs, which continue to demonstrate their effectiveness in improving care coordination, reducing unnecessary hospitalizations, and generating substantial savings for taxpayers while improving the patient experience. Astrana remains focused on expanding its physician enablement platform to help more providers deliver coordinated, high-quality care across the communities they serve.

⁽¹⁾ See "Reconciliation of Net Income to EBITDA and Adjusted EBITDA" and "Use of Non-GAAP Financial Measures" below for additional information.

About Astrana Health

Astrana Health is a physician-centric, AI-powered healthcare company committed to delivering high-quality, patient-centered care. Built from the physician's perspective, Astrana combines its scalable care delivery infrastructure, proprietary technology platform, and aligned provider networks to enable proactive, preventive care at scale – improving patient outcomes, enhancing patient experiences, supporting provider well-being, and driving greater value across the healthcare system.

Today, Astrana supports more than 20,000 providers and approximately 1.55 million patients in value-based care arrangements through its affiliated provider networks, management services organization, and integrated care delivery clinics spanning primary, specialty, and ancillary care. Together, Astrana is building the healthcare system we all deserve – one that delivers better care, better experiences, and better outcomes for all.

For more information about Astrana Health's ACO performance and value-based care initiatives, visit https://www.astranahealth.com/

Forward-Looking Statements:

This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, such as statements about the performance of the Company's ACOs, the Company's continued growth and expansion, including of the ACO operations, the Company's ability to meet operational goals, ability to meet expectations in deployment of care coordination and management capabilities, ability to decrease cost of care while improving quality and outcomes, ability to deliver sustainable revenue and EBITDA growth as well as long-term value, ability to respond to the changing environment, and statements about the Company's liquidity and successful completion and implementation of strategic growth plans. Forward-looking statements reflect current views with respect to future events and financial performance and therefore cannot be guaranteed. Such statements are based on the current expectations and certain assumptions of the Company's management, and some or all of such expectations and assumptions may not materialize or may vary significantly from actual results. Actual results may also vary materially from forward-looking statements due to risks, uncertainties and other factors, known and unknown, including the risk factors described from time to time in the Company's reports to the Securities and Exchange Commission, including, without limitation the risk factors discussed in the Company's Annual Report on Form 10-K for the year ended December 31, 2025, and subsequent quarterly reports on Form 10-Q. Any forward-looking statements made by the Company in this release speaks only as of the date on which it is made. The Company undertakes no obligation to publicly update any forward-looking statement, whether as a result of new information, future developments or otherwise, except as may be required by any applicable securities laws.

FOR MORE INFORMATION, PLEASE CONTACT:

To learn about ACO participation, contact Sean Zagari, sean.zargari@astranahealth.com

Investor Relations investors@astranahealth.com

Reconciliation of Net Income to EBITDA and Adjusted EBITDA 

		Year Ended  December 31,
(in thousands)		2025
Net income		$	24,076
Interest expense			49,928
Interest income			(12,157)
Provision for income taxes			15,530
Depreciation and amortization			45,749
EBITDA			123,126
Income from equity method investments			(1,708)
Other, net			45,405	(1)
Stock-based compensation			38,601
Adjusted EBITDA		$	205,424

(1) Other, net, for the year ended December 31, 2025, relates to $13.0 million for one-time legal matter costs, $25.9 million for one-time transaction-related costs, debt issuance costs incurred in connection with our Second Amended and Restated Credit Facility, certain costs and final settlement for some of our acquisitions, and severance fees incurred, partially offset by employer retention tax credits related to COVID-19 relief.

Use of Non-GAAP Financial Measures

This press release contains the non-GAAP financial measures EBITDA and Adjusted EBITDA, of which the most directly comparable financial measure presented in accordance with U.S. generally accepted accounting principles ("GAAP") is net income. These measures are not in accordance with, or alternatives to, GAAP, and may be calculated differently from similar non-GAAP financial measures used by other companies. We use Adjusted EBITDA as a supplemental performance measure of our operations, for financial and operational decision-making, and as a supplemental means of evaluating period-to-period comparisons on a consistent basis. Adjusted EBITDA is calculated as earnings before interest expense, interest income, income taxes, depreciation, and amortization, excluding income or loss from equity method investments, non-recurring and non-cash transactions, and stock-based compensation.

We believe the presentation of these non-GAAP financial measures provides investors with relevant and useful information, as it allows investors to evaluate the operating performance of the business activities without having to account for differences recognized because of non-core or non-recurring financial information. When GAAP financial measures are viewed in conjunction with non-GAAP financial measures, investors are provided with a more meaningful understanding of our ongoing operating performance. In addition, these non-GAAP financial measures are among those indicators we use as a basis for evaluating operational performance, allocating resources, and planning and forecasting future periods. Non-GAAP financial measures are not intended to be considered in isolation, or as a substitute for, GAAP financial measures. Other companies may calculate EBITDA and Adjusted EBITDA differently, limiting the usefulness of these measures for comparative purposes. To the extent this press release contains historical or future non-GAAP financial measures, we have provided corresponding GAAP financial measures for comparative purposes. The reconciliation between certain GAAP and non-GAAP measures are provided above.

 

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SOURCE Astrana Health, Inc.

FAQ

How much shared savings did Astrana Health (NASDAQ: ASTH) ACOs generate in the 2024 performance year?

Astrana Health ACOs generated $120.4 million in gross shared savings in the 2024 performance year. According to Astrana Health, all eight affiliated ACOs achieved net shared savings across Medicare Shared Savings Program and ACO REACH models, reflecting its physician-led value-based care platform.

How many ACOs and Medicare beneficiaries did Astrana Health ASTH serve in 2024?

Astrana Health reported eight affiliated ACOs serving nearly 100,000 Medicare beneficiaries in 2024. According to Astrana Health, these ACOs span five Medicare Shared Savings Program participants and three ACO REACH participants, all of which generated shared savings during the performance year.

What was Astrana Health ASTH financial performance in fiscal year 2025?

Astrana Health reported $3.18 billion in revenue and $205.4 million in adjusted EBITDA for fiscal 2025. According to Astrana Health, these figures underscore the scale and durability of its physician-centric, technology-enabled operating model supporting providers across Medicare, Medicaid, Commercial and ACA populations.

What revenue growth did Astrana Health (ASTH) report for the first quarter of 2026?

Astrana Health reported 56% year-over-year revenue growth in the first quarter of 2026. According to Astrana Health, this increase occurred as it continued expanding its AI-enabled platform and supported more providers transitioning to value-based care across multiple payer types nationwide.

How did Astrana Care Partners ACO (A5450) rank among MSSP ACOs in 2024?

Astrana Care Partners ACO (A5450) ranked seventh among 476 MSSP ACOs nationwide in net shared savings per beneficiary. According to Astrana Health, this ranking was achieved in its first performance year, highlighting results within the Medicare Shared Savings Program segment.

How large is Astrana Health ASTH’s physician enablement platform in 2026?

Astrana Health supports more than 20,000 providers caring for approximately 1.55 million patients through over 20 payer partnerships. According to Astrana Health, this physician enablement platform spans Medicare, Medicaid, Commercial and ACA populations, leveraging AI-enabled technology, care management and analytics.