Astrana Health (ASTH) Investor presentation summary

Market context and challenges

• U.S. healthcare is fragmented, costly, and delivers poor access and satisfaction for both patients and providers.

• Administrative complexity and limited technology hinder coordinated care and efficiency.

Business model and operating platform

• Implements a delegated financial model, aligning incentives across payers, providers, and patients for better outcomes and cost control.

• AI-native operating platform integrates data, automates workflows, and supports clinical decision-making at scale.

• Model enables providers to partner across all payer types, reducing administrative burden and improving care coordination.

Growth and geographic expansion

• Expanded from a single market to 16 markets nationwide between 2019 and 2025.

• Scaled provider network to over 20,000 with 1.55 million members in value-based arrangements as of Q1 2026.