Astrana Health, Inc. Completes Acquisition of Community Family Care Medical Group IPA, Inc. and Health Plan

Rhea-AI Summary

Astrana Health, Inc. (ASTH) completes the acquisition of Community Family Care Medical Group, including the CFC Health Plan and management services organization. The company aims to enhance patient outcomes and provide high-quality healthcare to local communities in Los Angeles.

ALHAMBRA, Calif., April 2, 2024 /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 it has completed the acquisition relating to Community Family Care Medical Group on March 31, 2024 by closing both the second closing under the Asset and Equity Purchase Agreement and the closing under the Stock Purchase Agreement, which includes  the CFC Health Plan ("HP") and CFC's management services organization ("MSO") entities.

Brandon Sim, President and CEO of Astrana Health, stated, "The completion of the CFC acquisition allows us to take greater responsibility for the outcomes of the patients that we serve and better manage and coordinate a person's whole health. I believe that our newly strengthened partnership will be extremely beneficial to the populations we serve, and I look forward to being able to further demonstrate our deep commitment to delivering accessible, high-quality, and high-value healthcare to local communities across Los Angeles."

Additional details regarding Astrana's acquisition of CFC can be found on the Company's Investor Relations website.

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 10,000 providers and 900,000 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
investors@astranahealth.com 

Asher Dewhurst, ICR Westwicke
investors@astranahealth.com 

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SOURCE Astrana Health, Inc.

FAQ

What did Astrana Health, Inc. (ASTH) announce regarding Community Family Care Medical Group?

Astrana Health, Inc. (ASTH) announced the completion of the acquisition of Community Family Care Medical Group, including the CFC Health Plan and management services organization.

When did Astrana Health, Inc. (ASTH) complete the acquisition of Community Family Care Medical Group?

Astrana Health, Inc. (ASTH) completed the acquisition of Community Family Care Medical Group on March 31, 2024.

Who is the President and CEO of Astrana Health, Inc. (ASTH)?

Brandon Sim is the President and CEO of Astrana Health, Inc. (ASTH).

What is the focus of Astrana Health, Inc. (ASTH) post-acquisition?

Post-acquisition, Astrana Health, Inc. (ASTH) aims to enhance patient outcomes and provide high-quality healthcare to local communities in Los Angeles.