Astrana Health, Inc.
For the period ended Sep 30, 2025. Filed Nov 10, 2025.
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A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Sep 30, 2025 · Filed Nov 10, 2025
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Glossary
The following abbreviations or acronyms that may be used in this document shall have the adjacent meanings set forth below:
| ACO REACH | ACO Realizing Equity, Access, and Community Health |
|---|---|
| ADSC | Advanced Diagnostic and Surgical Center, Inc. |
| AHMC | AHMC Healthcare Inc. |
| AHMS | Advanced Health Management Systems, L.P. |
| AHM | Astrana Health Management, Inc. (f/k/a Network Medical Management Inc.) |
| APC | Allied Physicians of California, a Professional Medical Corporation |
| APC-LSMA | APC-LSMA Designated Shareholder Medical Corporation |
| Astrana | Astrana Health, Inc. (f/k/a Apollo Medical Holdings, Inc.) |
| Astrana Medical | Astrana Health Medical Corporation (f/k/a AP-AMH Medical Corporation) |
| Astrana Care Partners Medical | Astrana Care Partners Medical Corporation (f/k/a AP-AMH 2 Medical Corporation) |
| CFC | Community Family Care Medical Group IPA, Inc. |
| CHS | Collaborative Health Systems, LLC, Golden Triangle Physician Alliance, and Heritage Physician Networks |
| CMS | Centers for Medicare & Medicaid Services |
| DMHC | California Department of Managed Health Care |
| IPA | Independent Practice Association |
| MSSP | Medicare Shared Savings Program |
| Prospect | Certain businesses and assets of Prospect Medical Holdings, Inc. acquired by the Company |
| Sun Labs | Sun Clinical Labs |
| VIE | Variable Interest Entity |
INTRODUCTORY NOTE
Unless the context dictates otherwise, references in this Quarterly Report on Form 10-Q to the “Company,” “we,” “us,” “our,” and similar words are references to Astrana Health, Inc., a Delaware corporation (“Astrana”), and its consolidated subsidiaries and affiliated entities, as appropriate, including its consolidated variable interest entities (“VIEs”).
This Quarterly Report on Form 10-Q includes the financial statements for the quarter ended September 30, 2025, and provides management’s discussion and analysis of the Company’s financial condition, results of operations, and other required disclosures, as mandated by the Securities and Exchange Commission (the “SEC”).
The Centers for Medicare & Medicaid Services (“CMS”) have not reviewed any statements contained in this Report, including statements describing the Company’s participation in the ACO Realizing Equity, Access, and Community Health Model (“ACO REACH Model”) and in the Medicare Shared Savings Program (“MSSP”).
Trade names and trademarks of Astrana and its subsidiaries referred to herein, and their respective logos, are our property. This Quarterly Report on Form 10-Q may contain additional trade names and/or trademarks of other companies, which are the property of their respective owners. We do not intend our use or display of other companies’ trade names and/or trademarks, if any, to imply an endorsement or sponsorship of us by such companies, or any relationship with any of these companies.
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.