Astrana Health, Inc. Announces Share Repurchase of 300,000 Shares

Rhea-AI Summary

Astrana Health (NASDAQ: ASTH) has announced a significant share repurchase of 300,000 shares from Allied Physicians of California (APC), a consolidated affiliate and long-standing stockholder. The transaction, completed on January 17, 2025, was executed at $35.17 per share, totaling $10.551 million.

The repurchase price was based on the closing price of Astrana's shares on the Nasdaq Stock Market on the transaction date. The company's Board of Directors and Audit Committee approved the transaction, with CEO Brandon K. Sim stating that the repurchase demonstrates management's confidence in Astrana Health's performance and commitment to strategic capital deployment practices focused on long-term growth.

Positive

• Share repurchase of $10.551 million demonstrates strong financial position
• Company shows confidence in its performance through buyback action
• Strategic capital deployment aimed at long-term growth

Negative

• Significant cash outlay of $10.551 million reduces available capital for other investments

News Market Reaction – ASTH

+5.60%

+5.60% Session move

In the trading session that priced this news, ASTH gained 5.60%, reflecting a notable positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

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ALHAMBRA, Calif., Jan. 21, 2025 /PRNewswire/ -- Astrana Health, Inc. ("Astrana," and together with its subsidiaries and affiliated entities, the "Company") (NASDAQ: ASTH), a leading provider-centric, technology-powered healthcare company enabling providers to deliver accessible, high-quality, and high-value care to all, today announced that on January 17, 2025, the Company repurchased 300,000 shares of the Company's common stock for the aggregate purchase price of $10.551 million, based on a purchase price per share of $35.17, which was the closing price per share on the Nasdaq Stock Market on such date.

"The share repurchase is a testament to management and the Board of Directors' confidence in the performance of Astrana Health. We remain committed to our strategic capital deployment practices and continue to prioritize long-term growth, including through opportunistic share repurchases," said Brandon K. Sim, President and CEO of Astrana.

The shares were purchased from Allied Physicians of California, a Professional Medical Corporation ("APC"), a long-standing stockholder and a consolidated affiliate of the Company. The Company's Board of Directors and the Audit Committee of the Board of Directors approved the repurchase.

About Astrana Health, Inc.

Astrana is a leading provider-centric, technology-powered healthcare company enabling providers to deliver accessible, high-quality, and high-value care to all. Leveraging its proprietary end-to-end technology solutions, Astrana operates an integrated healthcare delivery platform that enables providers to successfully participate in value-based care arrangements, thus empowering them to deliver high quality care to patients in a cost-effective manner.

Headquartered in Alhambra, California, Astrana serves over 12,000 providers and over 1.1 million Americans in value-based care arrangements. Its subsidiaries and affiliates include management services organizations (MSOs), affiliated independent practice associations (IPAs), accountable care organizations (ACOs), and care delivery entities across primary, multi-specialty, and ancillary care. For more information, please visit www.astranahealth.com.

FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations
(626) 943-6491
Asher Dewhurst
investors@astranahealth.com

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SOURCE Astrana Health, Inc.

FAQ

How many shares did Astrana Health (ASTH) repurchase on January 17, 2025?

Astrana Health repurchased 300,000 shares on January 17, 2025.

What was the total value of ASTH's January 2025 share repurchase?

The total value of the share repurchase was $10.551 million, at $35.17 per share.

From whom did Astrana Health (ASTH) repurchase the shares?

Astrana Health repurchased the shares from Allied Physicians of California (APC), a consolidated affiliate and long-standing stockholder.

What was the share price for ASTH's January 2025 buyback?

The share repurchase price was $35.17 per share, which was the closing price on the Nasdaq Stock Market on January 17, 2025.

What is the purpose of Astrana Health's (ASTH) share repurchase program?

The share repurchase demonstrates management's confidence in the company's performance and commitment to strategic capital deployment for long-term growth.