Privia Health Group, Inc. Stock Price, News & Analysis

Privia Health announces the appointment of Parth Mehrotra as CEO, succeeding retiring Shawn Morris, effective July 1, 2023. Under Morris's leadership since 2018, Privia transitioned to a publicly-traded entity, expanded into eight states, and increased provider partnerships by over 125%, totaling more than 3,600.

Mehrotra, who has been with the company since 2018, expressed excitement about leading during a period of significant change in the healthcare industry. The company aims to build a large primary-care centric network and reiterated its 2023 financial guidance remains unchanged. The board endorsed Mehrotra's leadership capabilities, emphasizing the company's strong position for future growth and profitability.

ARLINGTON, Va., April 11, 2023 (GLOBE NEWSWIRE) -- Privia Health Group (Nasdaq: PRVA) announced its plans to release financial results for the first quarter ending March 31, 2023, before market open on May 4, 2023. The press release will be distributed at 7:00 am ET and will be available on the Company’s Investor Relations website. Following the release, Privia Health management will host a conference call at 8:30 am ET to discuss the results and provide insights on future financial and operational performance. Interested parties can join the call via live webcast, which will also be archived for later access. For additional information, visit the Investor Relations page on their website.

Contact: Robert Borchert, SVP, Investor & Corporate Communications, IR@priviahealth.com, 817.783.4841.

On March 7, 2023, Privia Health (Nasdaq: PRVA) announced a strategic partnership with OhioHealth, launching Privia Medical Group – Ohio. This initiative aims to enhance OhioHealth's clinically integrated network and provide local physicians with advanced technology and support for value-based care. The partnership seeks to reduce administrative burdens for physicians, enabling them to focus on delivering quality patient care. New members of Privia Medical Group will benefit from Privia's data connectivity and population health expertise, while participating in OhioHealth's CIN for improved access to value-based arrangements.

Privia Health Group, Inc. (Nasdaq: PRVA) reported strong FY 2022 results with total revenue reaching $1.36 billion, a 40.4% increase. Work from the fourth quarter showed total revenue of $364.4 million, up 32.4%. Notable achievements include a 49.1% growth in practice collections, totaling $2.42 billion for the year. The company launched new ACOs and entered Connecticut, Delaware, North Carolina, and Ohio, increasing attributed lives to 856,000. For FY 2023, guidance anticipates revenue growth of 14.3% to 21.6% with expected practice collections between $2.7 billion and $2.85 billion, indicating further robust expansion.

On February 17, 2023, Privia Health (Nasdaq: PRVA) announced a partnership with Community Medical Group (CMG) to create the Privia Quality Network of Connecticut (PQN CT), the largest Clinically Integrated Network in the state. The network includes around 1,100 multi-specialty providers, with over 430 primary care doctors across 450 locations, serving approximately 180,000 patients. Privia will be the majority owner of PQN CT, which contracts with payers including Medicare, covering around 29,000 beneficiaries in the Medicare Shared Savings Program for 2023.

CEO Shawn Morris emphasized that this partnership is a significant step toward establishing a national network of value-based care providers.

ARLINGTON, Va., Jan. 26, 2023 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA) announced its upcoming financial results release for Q4 and the full year ended December 31, 2022. The results will be available before market open on February 28, 2023, with public dissemination scheduled for 7:00 am ET. Management will host a conference call at 8:30 am ET to discuss these results and future outlook. Interested parties can access the call through the company’s Investor Relations website, where the event will also be archived for on-demand listening.

Privia Health is recognized for its innovative, technology-driven approach to enhancing healthcare delivery and outcomes.

Privia Health Group (Nasdaq: PRVA) has expanded its reach by launching two new Accountable Care Organizations (ACOs) in Delaware and North Carolina, bringing its total ACOs to nine. This initiative, effective January 1, 2023, allows over 2,500 independent providers to serve more than 191,700 Medicare beneficiaries through the Medicare Shared Savings Program (MSSP). Privia’s ACOs have achieved notable success, having generated $99.9 million in shared savings in 2021, with overall savings exceeding $740 million since joining MSSP in 2014. The expansion reflects Privia's commitment to enhancing value-based care across the nation.

Privia Health Group, Inc. (Nasdaq: PRVA) has announced a partnership with Beebe Healthcare to establish the Privia Quality Network — Delaware (PQN – DE), marking its expansion into the 11th state. This Accountable Care Organization will participate in the 2023 Medicare Shared Savings Program (MSSP), managing approximately 12,400 patient lives through over 200 providers. This initiative is designed to enhance value-based care via a robust analytics platform, benefiting both patients and healthcare providers. Since 2014, Privia Quality Network has generated over $740 million in shared savings across various programs, including $380 million from MSSP.

ARLINGTON, Va., Jan. 03, 2023 (GLOBE NEWSWIRE) -- Privia Health Group plans to present at the 41st Annual J.P. Morgan Healthcare Conference on January 9, 2023, starting at 6:00 pm ET. The management team will engage in a Q&A session.

The live webcast and replay will be accessible along with a slide presentation on their investor relations page.