Astrana Health Stock Price, News & Analysis

Astrana Health (NASDAQ: ASTH) has announced a definitive agreement to acquire Prospect Health for $745 million. The acquisition includes Prospect's health plan, medical groups across four states, management service organization, pharmacy, and a 177-bed hospital. Prospect's network includes approximately 3,000 primary care providers and 10,000 specialists, serving 610,000 members across Medicare Advantage, Medicaid, and Commercial lines.

The transaction is expected to close in mid-2025, funded through cash and a $1,095 million bridge commitment from Truist Bank and J.P. Morgan. Prospect is projected to generate $1.2 billion in revenue with adjusted EBITDA of $81 million for 2024.

Astrana Health (NASDAQ: ASTH) reported Q3 2024 financial results with total revenue of $478.7 million, up 37% year-over-year. Care Partners revenue increased 42% to $455.8 million. However, net income declined 27% to $16.1 million, with diluted EPS falling 30% to $0.33. Adjusted EBITDA decreased 13% to $45.2 million.

The company recently acquired Collaborative Health Systems and related entities for $37.5 million plus potential earnout payments up to $21.5 million. Astrana updated its 2024 guidance, projecting total revenue between $1,950-$2,030 million and net income of $52-$58 million.

Astrana Health (NASDAQ: ASTH) announced it will release its Q3 2024 financial results on Thursday, November 7, 2024, after market close. The company will host a conference call at 2:30 p.m. PT/5:30 p.m. ET on the same day to discuss the results. Participants can join via phone at (888) 272-8703 or +1 713-481-1320. A slide presentation will be available on the company's IR website, and the call will be accessible through a webcast with recording available afterward.

Astrana Health, Inc. (NASDAQ: ASTH) has completed its acquisition of Collaborative Health Systems (CHS), previously a Centene (NYSE:CNC) company. This strategic move expands Astrana's provider network and value-based care capabilities across 17 states, serving over 129,000 beneficiaries. The acquisition aims to:

1. Enhance payer-agnostic care delivery across all business lines
2. Integrate complementary provider footprints in key markets
3. Leverage Astrana's Care Enablement platform to improve patient outcomes

Brandon Sim, CEO of Astrana Health, emphasized that this acquisition will strengthen the company's position in delivering high-quality, accessible healthcare. The transaction has received necessary regulatory approvals, with updated financial outlooks to be provided in Astrana's Q3 2024 earnings call.

Astrana Health (NASDAQ: ASTH), a leading provider-centric, technology-powered healthcare company, has announced its participation in four upcoming investor conferences in September 2024. These include:

• The Wells Fargo Healthcare Conference in Boston on September 4
• The Morgan Stanley 22nd Annual Global Healthcare Conference in New York on September 6, featuring a fireside chat at 12:20pm ET
• The Cowen 9th Annual FutureHealth Conference in New York on September 10, including a panel discussion at 1:25pm ET
• The Baird Global Healthcare Conference in New York on September 11, with a fireside chat at 2:00pm ET

This series of conference appearances demonstrates Astrana's commitment to engaging with investors and showcasing its role in delivering accessible, high-quality, and high-value healthcare.

Astrana Health (NASDAQ: ASTH) reported strong Q2 2024 results, with total revenue up 40% to $486.3 million and net income up 46% to $19.2 million. The company's Care Partners segment drove growth, with revenue increasing 44% to $463.3 million. Adjusted EBITDA rose 34% to $47.9 million. Astrana expanded into Arizona and Hawaii, partnered with Anthem Blue Cross and Elation Health, and agreed to acquire Collaborative Health Systems. The company updated its 2024 guidance, projecting total revenue between $1.75-$1.85 billion and net income of $54-$66 million. CEO Brandon K. Sim highlighted the company's progress in delivering value-based care across communities.

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.