Who Owns Astrana Health Company?

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Who Owns Astrana Health?

Astrana Health, formerly Apollo Medical Holdings, rebranded in February 2024. Founded in 1985 by Kenneth Sim and Thomas S. Lam, it's a physician-centric, tech-powered healthcare management company.

The company operates through Care Partners, Care Delivery, and Care Enablement segments, focusing on value-based care. As of December 2024, it employed around 1,900 individuals.

With a market capitalization of $1.45 billion as of August 2025, Astrana Health is a significant player. Understanding its ownership structure, including founder stakes and institutional investors, is key to grasping its strategic direction. A deeper look into its market position can be found in an Astrana Health PESTEL Analysis.

Astrana Health, Inc. was established in 1985, with its roots tracing back to Dr. Kenneth T. Sim and Dr. Thomas S. Lam, who serve as its Co-Founders. The company's operational beginnings can be linked to ApolloMed Hospitalists, incorporated in California in 2001, which commenced services at Glendale Memorial Hospital.

Founding Visionaries

Dr. Kenneth T. Sim and Dr. Thomas S. Lam are the principal founders of Astrana Health. Their leadership has guided the company's trajectory since its inception.

Early Operations

The company's early operational phase began with ApolloMed Hospitalists in 2001. This marked the initial steps in providing specialized hospitalist services.

Leadership Continuity

Both founders maintain significant leadership roles within the organization. Dr. Sim chairs Astrana Health Management, while Dr. Lam serves as its CEO.

Founders' Stake

The founders continue to hold substantial ownership stakes. This reflects their enduring commitment and influence on the company's strategic direction.

Management Roles

Dr. Sim has been Chairman of Astrana Health Management since 2013, and Dr. Lam has been CEO since 2006. Their long-standing executive positions highlight their deep involvement.

Corporate Structure

The company's structure emphasizes a physician-centric approach. This model aims to align care delivery with value-based outcomes.

While precise initial equity distributions are not publicly detailed, the founders, Dr. Kenneth Sim and Dr. Thomas Lam, remain key shareholders. As of August 2025, Dr. Kenneth T. Sim is the largest individual shareholder, possessing 33,926,420 shares, which represents 60.52% of the company and is valued at approximately $995.06 million. Dr. Thomas S. Lam holds 33,056,449 shares, equating to 58.96%, with a valuation around $969.55 million. These holdings underscore a significant and sustained founder presence. Other notable insider shareholders include Dr. Albert Waichow Young with 28,534,798 shares (50.90%) and Brandon Sim, the current President and CEO, who owns 3,488,411 shares, or 6.22%, valued at $102.32 million. The founders' continued high ownership suggests a strong alignment with their initial vision for a physician-centric, value-based care model, reflecting their commitment to the Mission, Vision & Core Values of Astrana Health.

Key Shareholder Data (August 2025)

Founders Dr. Kenneth T. Sim and Dr. Thomas S. Lam hold the majority of shares, indicating significant founder control and investment.

• Dr. Kenneth T. Sim: 33,926,420 shares (60.52%)
• Dr. Thomas S. Lam: 33,056,449 shares (58.96%)
• Dr. Albert Waichow Young: 28,534,798 shares (50.90%)
• Brandon Sim (President & CEO): 3,488,411 shares (6.22%)

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Astrana Health's ownership journey began when it was known as Apollo Medical Holdings, Inc., becoming publicly traded in 2008. A significant shift occurred with the 2017 merger with Astrana Health Management, leading to its Nasdaq listing. This evolution shaped its current corporate structure and stakeholder landscape.

Institutional investors are the dominant force in Astrana Health's ownership, holding over half of the company's shares as of June 30, 2025. This significant stake underscores the influence of large financial entities on the company's direction. The slight decrease in institutional ownership from February 2025 suggests a dynamic market presence.

Key Stakeholders in Astrana Health

Major institutional investors and company insiders are the primary stakeholders influencing Astrana Health's strategic decisions. Their holdings reflect a significant commitment to the company's growth and operational strategies.

• Institutional Ownership: Approximately 53.95% as of June 30, 2025.
• Major Institutional Holders: BlackRock, Inc., Vanguard Group Inc., and State Street Corp. are among the largest.
• Insider Holdings: Insiders, including executives, hold about 4.65% as of June 2025.
• Notable Insiders: Dr. Kenneth T. Sim, Dr. Thomas S. Lam, Dr. Albert Waichow Young, and CEO Brandon Sim.
• Public Trading: The company is publicly traded on The Nasdaq Capital Market, indicating broad accessibility for investors.

The evolution of Astrana Health's ownership structure is a testament to its growth and integration within the healthcare sector. From its early days as Apollo Medical Holdings, Inc., the company's path has been marked by strategic mergers and public market listings, culminating in its current status as a publicly traded entity. Understanding who owns Astrana Health involves recognizing the substantial influence of institutional investors, such as BlackRock and Vanguard, alongside the committed stakes held by company insiders like CEO Brandon Sim and other key executives. This blend of institutional and insider ownership suggests a shared vision for the company's future, particularly in its focus on value-based care and strategic expansion. For a deeper dive into the company's history and its foundational elements, a Brief History of Astrana Health provides valuable context.

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Astrana Health, Inc.'s Board of Directors is composed of key figures including Co-Founder and Executive Chairman Dr. Kenneth Sim, and Co-Founder and Vice Chairman Dr. Thomas S. Lam. The board also features independent directors such as John Chiang, Weili Dai, J. Lorraine Estradas, Mitchell W. Kitayama, Linda Marsh, Matthew Mazdyasni, and David G. Schmidt, with Mitchell W. Kitayama serving as Lead Independent Director.

The voting power within Astrana Health is primarily determined by share ownership, adhering to a one-share-one-vote principle typical for companies listed on Nasdaq. As of the definitive proxy statement filed on April 25, 2025, for the 2025 Annual Meeting, stockholders of record as of April 22, 2025, are entitled to vote. There is no indication of dual-class shares or special voting rights. The substantial holdings by founders Dr. Kenneth Sim, with 60.52% ownership, and Dr. Thomas S. Lam, with 58.96% ownership, grant them significant voting power and a controlling interest in the company, influencing key decisions and the overall direction, which is a critical aspect of Astrana Health ownership.

Board Oversight and Shareholder Influence

Astrana Health's board structure includes specialized committees such as Audit, Compensation, and Governance to ensure thorough oversight. This structure aims to maintain a balance between strategic growth and accountability to shareholders.

• The board's composition includes founders and independent directors.
• Voting power is generally aligned with share ownership.
• Founders hold a significant majority of voting power.
• Board committees provide specific areas of governance focus.
• The company's corporate structure emphasizes shareholder accountability.

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Astrana Health has undergone significant transformation in its ownership and strategic direction over the past few years. Key developments include a rebranding and substantial acquisitions, reshaping its market presence and investor landscape.

The ownership structure of Astrana Health shows a notable presence of institutional investors, although their collective stake saw a slight reduction. From February 2025 to June 2025, institutional holdings decreased from 58.14% to 53.95%. During the same period, insider holdings experienced a minor increase, moving from 4.59% to 4.65%. This shift in ownership percentages may be influenced by market performance, as the company's stock price declined by 37.13% between August 2024 and August 2025. Astrana Health's strategic focus on expansion through acquisitions and its commitment to AI-enabled value-based care are key elements of its corporate structure and future growth, aligning with Revenue Streams & Business Model of Astrana Health.

Institutional Investor Holdings

Institutional investors held 53.95% of Astrana Health's stock as of June 2025. This represents a decrease from 58.14% in February 2025.

Insider Ownership Trends

Insider holdings increased slightly to 4.65% by June 2025. This indicates continued confidence from company executives and founders.

Strategic Acquisitions Impact

The acquisition of Prospect Health System for $708 million in July 2025 significantly boosted revenue projections. This move expanded the provider network and patient base.

Leadership and Operational Changes

Brandon K. Sim became President and CEO in January 2024. Key operational roles were filled in June 2025, strengthening the management team.

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