ASTH — what changed in the latest 10-Q

Text added vs the prior filing · source: 10-Q · 2026-05-08

• On April 6, 2026, the Centers for Medicare & Medicaid Services (“CMS”) issued its final 2027 Medicare Advantage and Part D payment rates (“2027 CMS Rates”). The final notice saw a modest increase in the ratebook in addition to continuing to use the 2024 Medicare Advantage risk adjustment model for 2…

• Our revenue, which is recorded in the period during which services are rendered and earned, generally on a monthly basis, primarily consists of capitation revenue, risk pool settlements and incentives, management fee income, fee-for-service (“FFS”) revenue, and other revenue primarily consisting of …

• Our largest expenses consist of the cost of (a) patient care paid to contracted providers and (b) staff to provide management and administrative support services to our affiliated physician groups, as further described in the following sections. These services include claims processing, utilization …

• Adjusted EBITDA and Adjusted EBITDA margin are supplemental performance measures of our operations for financial and operational decision-making, and are used as a supplemental means of evaluating period-to-period comparisons on a consistent basis. Adjusted EBITDA is calculated as earnings before in…

• Adjusted Net Income Attributable to Astrana and Adjusted Earnings Per Share (“EPS”) - Diluted

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• The One Big Beautiful Bill Act (the “OBBBA”), signed July 4, 2025, introduces Medicaid work-requirement pilots and tighter provider-tax rules beginning in 2026. The Company expects to see tax impacts from the following changes, including the restoration of 100% bonus depreciation, allowing the curre…

• Closing of the Acquisition of Certain Assets and Businesses of Prospect Medical Holdings, Inc. (“Prospect”) (such acquisition, the “Prospect Acquisition”)

• On July 1, 2025, we completed the previously announced Prospect Acquisition for a purchase price of $674.9 million. Prospect is a provider-centric risk-bearing healthcare company that operates an integrated healthcare delivery platform enabling a network of over 11,000 providers to successfully part…

• Our revenue, which is recorded in the period during which services are rendered and earned, primarily consists of capitation revenue as well as risk pool settlements and incentives, management fee income, and fee-for-service (“FFS”) revenue. The form of billing and related risk of collection for suc…

• Our largest expenses consist of the cost of (i) patient care paid to contracted providers; (ii) information technology equipment and software; and (iii) staff to provide management and administrative support services to our affiliated physician groups, as further described in the following sections.…

Text added vs the prior filing · source: 10-Q · 2026-05-08

• The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below:

• Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.)

• Allied Physicians of California, a Professional Medical Corporation

• Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation)

• Astrana Care Partners Medical Corporation (f/k/a AP-AMH 2 Medical Corporation)

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• Borrowings under the Term Loans and Revolver Loan provided for under our Second Amended and Restated Credit Agreement, as of September 30, 2025, were $942.2 million and $122.0 million, respectively. The loans under the Second Amended and Restated Credit Agreement bear interest at an annual rate equa…

Text added vs the prior filing · source: 10-Q · 2026-05-08

• The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below:

• Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.)

• Allied Physicians of California, a Professional Medical Corporation

• Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation)

• Astrana Care Partners Medical Corporation (f/k/a AP-AMH 2 Medical Corporation)

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• We maintain “disclosure controls and procedures,” as defined in Rule 13a-15(e) under the Exchange Act, designed to ensure that information required to be disclosed by a company in the reports filed or submitted under the Exchange Act is recorded, processed, summarized and reported within the time pe…

• As of September 30, 2025, we carried out an evaluation, under the supervision and with the participation of our management, including our Chief Executive Officer and Chief Financial and Operating Officer, of the effectiveness of the design and operation of our disclosure controls and procedures. Bas…

• There were no changes in our internal control over financial reporting during the quarter ended September 30, 2025, that have materially affected, or are reasonably likely to materially affect, our internal control over financial reporting. We will exclude the operations of Prospect as we continue t…

Text added vs the prior filing · source: 10-Q · 2026-05-08

• The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below:

• Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.)

• Allied Physicians of California, a Professional Medical Corporation

• Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation)

• Astrana Care Partners Medical Corporation (f/k/a AP-AMH 2 Medical Corporation)

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• We are, from time to time, party to lawsuits, threatened lawsuits, disputes, and other claims arising in the normal course of business. We assess our liabilities and contingencies in connection with outstanding legal proceedings utilizing the latest information available. Where it is probable that w…

• Certain of the pending or threatened legal proceedings or claims in which we are involved are discussed under Note 11 — “Commitments and Contingencies,” to our unaudited condensed consolidated financial statements in this Quarterly Report on Form 10-Q, which disclosure is incorporated by reference h…

Text added vs the prior filing · source: 10-Q · 2026-05-08

• The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below:

• Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.)

• Allied Physicians of California, a Professional Medical Corporation

• Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation)

• Astrana Care Partners Medical Corporation (f/k/a AP-AMH 2 Medical Corporation)

Text added vs the prior filing · source: 10-Q · 2026-05-08

• The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below:

• Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.)

• Allied Physicians of California, a Professional Medical Corporation

• Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation)

• Astrana Care Partners Medical Corporation (f/k/a AP-AMH 2 Medical Corporation)

Text removed vs the prior filing · source: 10-Q · 2025-11-10

• During the quarter ended September 30, 2025, none of the Company’s directors or executive officers adopted, modified, or terminated any contract, instruction, or written plan for the purchase or sale of Company securities that was intended to satisfy the affirmative defense conditions of Rule 10b5-1…