Astrana Health, Inc.

Astrana Health, Inc. (Nasdaq: ASTH) is a physician-centric, technology-powered, risk-bearing healthcare company that operates an integrated healthcare delivery platform enabling providers to successfully participate in value-based care arrangements. The company leverages proprietary end-to-end technology solutions to empower providers to deliver accessible, high-quality care in a cost-effective manner while coordinating outcome-based care for patients covered by Medicare, Medicaid, HMOs, and private insurance.

As of December 31, 2025, Astrana coordinated value-based care for approximately 1.6 million patients through a network of over 20,000 contracted physicians, including primary care physicians, specialists, and hospitalists. The company operates through three reportable segments: Care Partners, which builds and manages high-quality provider networks through risk-bearing organizations including independent practice associations and accountable care organizations; Care Delivery, a patient-centric organization operating over 60 locations including primary care clinics, specialty care clinics, urgent care centers, ambulatory surgery centers, outpatient imaging centers, and a full-service laboratory; and Care Enablement, a comprehensive platform integrating clinical, operational, financial, and administrative information through proprietary technology and management services organizations.

Astrana employs approximately 3,000 employees across its subsidiaries and consolidated entities. The company's revenue streams are diversified across capitation revenue, risk pool settlements and incentives, management fee income, fee-for-service revenue, and other revenue sources. In July 2025, Astrana completed the acquisition of certain businesses and assets of Prospect Medical Holdings, Inc. for $674.9 million, significantly expanding its provider network and enhancing its ability to offer increased access, quality, and value to members.

The company's integrated approach combines clinical expertise, administrative capabilities, and proprietary technology to position it advantageously within the healthcare industry's shift toward value-based care models. Astrana participates in multiple Centers for Medicare & Medicaid Services programs including the ACO REACH Model, the Medicare Shared Savings Program, and the ACO LEAD Model, enabling providers to assume financial risk and achieve rewards through attribution-based risk-sharing arrangements.