Business
Astrana Health, Inc. Reports Second Quarter 2024 Results
Company to Host Conference Call on Wednesday, August 7, 2024, at 2:30 p.m. PT/5:30 p.m. ET ALHAMBRA, Calif., Aug. 7, 2024 /PRNewswire/ -- Astrana Health, Inc.
About this update from Astrana Health Inc.
[{"type":"text","content":"Company to Host Conference Call on Wednesday, August 7, 2024, at 2:30 p.m. PT/5:30 p.m. ET\nALHAMBRA, Calif., Aug. 7, 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 its consolidated financial results for the second quarter ended June 30, 2024.\n\n \n \n \n \n \n \n\n \n\"We believe our strong second quarter results and entry into new states reflect the progress, scale, and momentum we continue to build at Astrana as we drive towards our mission to empower entrepreneurial providers and deliver great healthcare to local communities across the country. Strong revenue and adjusted EBITDA growth in the quarter were driven by continued organic growth in our Care Partners segment, the successful integration of the Community Family Care acquisition, and continued success in managing total cost of care for our one million members in value-based, risk-bearing arrangements. Our entry into Arizona and Hawai'i, partnerships with Anthem Blue Cross and Elation Health, and our agreement to acquire Collaborative Health Systems are anticipated to continue driving strong, sustainable, and profitable growth for the Astrana platform. We are excited to continue proving that value-based care can be done successfully in communities across the country,\" said President and CEO of Astrana Health, Brandon K. Sim.\nFinancial Highlights for Second Quarter Ended June 30, 2024:\nAll comparisons are to the quarter ended June 30, 2023 unless otherwise stated.\nTotal revenue of $486.3 million, up 40% from $348.2 millionCare Partners revenue of $463.3 million, up 44% from $321.8 millionNet income attributable to Astrana of $19.2 million, up 46% from $13.2 millionEarnings per share - diluted (\"EPS - diluted\") of $0.40, up 43% from $0.28 per shareAdjusted EBITDA of $47.9 million, up 34% from $35.8 millionFinancial Highlights for Six Months Ended June 30, 2024:\nAll comparisons are to the six months ended June 30, 2023 unless otherwise stated.\nTotal revenue of $890.6 million, up 30% from $685.5 millionCare Partners revenue of $845.6 million, up 33% from $636.4 millionNet income attributable to Astran...