Astrana Health Management, Inc. entered into an Asset and Equity Purchase Agreement to acquire Advanced Health Management Systems, L.P. and All Assets of Community Family Care Medical Group IPA from CFC MANAGEMENT, LLC, ACCIE M. MITCHELL AND GLORIA C. MITCHELL for approximately $200 million on November 7, 2023. Apollo will purchase all of the outstanding general and limited partnership interests of AHMS for an aggregate purchase price of $52 million, subject to customary adjustments, and also purchase substantially all the assets of CFC for an aggregate purchase price of $113.8 million (consisting of $93.8 million in cash and 631,712 shares of common stock of the Company), subject to customary adjustments, plus the assumption of certain identified liabilities of CFC plus earnout payments in an aggregate amount of up to $15 million. The Company intends to finance the Transaction with cash on hand and borrowings under its amended and restated credit agreement with Truist Bank, as administrative agent, and the financial institutions that are lenders thereunder. The Company anticipates that it will lend the funds required for the purchase of the assets of CFC to AP-AMH 2 on a secured basis, and that AP-AMH 2 will use those funds to purchase preferred stock of the CFC Buyer. The transaction is subject to regulatory approval. It is currently anticipated that the purchase of the assets of CFC and the purchase of the outstanding partnership interests of AMHS will occur in two separate closings, both of which are currently expected to occur during the first calendar quarter of 2024. Eric Klein, Esq. and Chi Huynh of Sheppard, Mullin, Richter & Hampton LLP is serving as legal counsel for CFC. Lauren Geisser and Christine Shin of Russ August & Kabat LLP and Nossaman LLP are serving as legal counsel for ApolloMed. As of January 31, 2024, company completed its acquisition of CFC's assets.

Astrana Health Management, Inc. completed the acquisition of All Assets of Community Family Care Medical Group IPA on March 31, 2024.