Alignment Healthcare, Inc. - ALHC STOCK NEWS

GRAIL, LLC has partnered with Alignment Health Plan to provide Medicare Advantage members in California and North Carolina access to Galleri®, a multi-cancer early detection blood test. Starting January 1, 2022, new and existing members can obtain the test, which detects over 50 cancers, many of which lack standard screenings. The initiative aims to enhance cancer detection among seniors, thereby potentially reducing late-stage diagnoses.

Alignment Healthcare announced the completion of its public offering of 9,200,000 shares of common stock at $21.00 per share. The offering included the full exercise of underwriters' option for an additional 1,200,000 shares. Proceeds will not benefit the company, as shares are sold by existing stockholders. The registration statement was effective as of November 18, 2021. Major financial institutions participated as book-running managers in the offering. This move reflects Alignment Healthcare's ongoing strategy to enhance its Medicare Advantage services without direct financial inflow from the sale.

Alignment Healthcare announces enhancements to its Medicare Advantage plans for 2022, focusing on improved prescription drug coverage. Key features include $0 copays for many medications, virtual care orders, and at-home delivery services. Over 70% of prescriptions in Arizona, Nevada, and North Carolina will be available at no cost. The plan has received the Pharmacy Quality Alliance Excellence in Quality Award for four consecutive years, reflecting its commitment to high-quality Medicare services. Enrollment is open until Dec. 7, 2021, for benefits starting Jan. 1, 2022.

Alignment Healthcare, a tech-enabled Medicare Advantage company (Nasdaq: ALHC), announced that CEO John Kao and CFO Thomas Freeman will speak at the Piper Sandler 33rd Annual Healthcare Conference on Dec. 1, 2021, at 11:00 a.m. E.T. The event will include a fireside chat, and the webcast link can be found on their investor relations page. Alignment Healthcare focuses on delivering customized healthcare services to seniors and chronically ill individuals through their Medicare Advantage plans, enhancing care coordination and managing health risks effectively.

Alignment Healthcare announced the pricing of an underwritten public offering of 8,000,000 shares at $21.00 each, with an option for underwriters to purchase an additional 1,200,000 shares. The offering does not benefit Alignment Healthcare, as the proceeds will go to selling stockholders, who will cover related costs. The offering is set to close on November 23, 2021. The registration statement was declared effective on November 18, 2021, by the SEC. Major banks, including Goldman Sachs and Morgan Stanley, are managing the offering, which is subject to customary closing conditions.

Alignment Healthcare announced a public offering of 8 million shares of its common stock by selling stockholders, with an option for underwriters to purchase an additional 1.2 million shares. The company will not receive any proceeds from this offering, and all associated costs will be borne by the selling stockholders. Goldman Sachs, Morgan Stanley, J.P. Morgan, BofA Securities, and William Blair serve as joint lead managers for this offering. A registration statement has been filed with the SEC but is not yet effective, and the offering cannot proceed until it is.

Alignment Healthcare (NASDAQ: ALHC) announced that Dawn Maroney, CEO of Alignment Health Plan (CA), received the Orange County Business Journal’s 27th Annual Women in Business Award. Honored for her impact on the community and industry, Maroney's leadership has been pivotal in expanding Alignment’s offerings to seniors, contributing to year-over-year growth. With over 30 years of experience in health plans, she has significantly influenced the company’s rapid rise in the Medicare Advantage market since its public listing in March 2021.

Alignment Healthcare reported Q3 2021 results with health plan membership up 29% year-over-year, reaching approximately 86,000. Total revenue increased by 18% to $293.5 million, with health plan premium revenue growing 24%. However, the company experienced a net loss of $45.8 million, and adjusted EBITDA stood at negative $5.5 million. The adjusted gross profit margin decreased to 14.3%. For Q4 2021, revenue guidance is set between $265 million and $270 million. The company maintains a cash reserve of $500.5 million against $153 million in debt, illustrating its financial position amidst operational losses.

Alignment Healthcare (Nasdaq: ALHC) will announce its third-quarter financial results for 2021 on November 4, 2021, post-market closure. A conference call for investors is scheduled for the same day at 5:30 p.m. E.T., where details of the results will be discussed. The call can be accessed via phone or through a live audio webcast. Alignment Healthcare focuses on providing customized Medicare Advantage plans, emphasizing care for seniors and chronically ill patients through clinical coordination and technology.