P3 HEALTH PARTNERS INC - PIII STOCK NEWS

P3 Health Partners (NASDAQ: PIII) has announced the appointment of Leif Pedersen as its new Chief Financial Officer, effective October 1, 2024. Pedersen, with over 25 years of experience in finance and value-based care, will succeed Atul Kavthekar, who will transition to a Strategic Advisor role. Pedersen's background includes serving as VP of Finance & CFO Shared Services at Optum Health and VP of Finance & CFO IT at DaVita Medical Group.

In his new role, Pedersen will oversee Accounting, Treasury, Finance Analytics, and Investor Relations. P3's CEO, Dr. Aric Coffman, expressed confidence in Pedersen's ability to help the company achieve its long-term goals while maintaining excellence in value-based care.

P3 Health Partners (NASDAQ: PIII), a patient-centered and physician-led population health management company, has announced its participation in two upcoming investor conferences. The company will be present at:

• The 2024 Wells Fargo Healthcare Conference in Boston, MA on Wednesday, September 4, 2024
• The Lake Street Best Ideas Growth Conference in New York, NY on Thursday, September 12, 2024

These conferences provide P3 Health Partners with opportunities to showcase their business model and growth strategies to potential investors and industry analysts. The company's presence at these events underscores its commitment to engaging with the investment community and highlighting its role in the evolving healthcare landscape.

P3 Health Partners (NASDAQ: PIII) released its financial results for Q2 2024, ending June 30. The company reported total revenue of $379.2 million, marking a 15% increase from $329.1 million in Q2 2023. Capitated revenue also saw a 15% rise to $374.3 million. However, gross profit declined to $14 million from $26.8 million last year, and profit per member per month (PMPM) dropped to $36 from $86. The medical margin decreased to $41.1 million from $50.5 million, while net loss widened to $28.8 million compared to $27.6 million. Adjusted EBITDA showed a loss of $8.8 million vs. a gain of $0.2 million last year. For fiscal 2024, P3 projects total revenue between $1.45 billion and $1.55 billion, a medical margin of $230-250 million, and adjusted EBITDA between $20-40 million.

P3 Health Partners Inc. (NASDAQ: PIII), a patient-centered and physician-led population health management company, has announced its plans to release second quarter 2024 financial results and file its Quarterly Report on Form 10-Q on Wednesday, August 7, 2024. The company will host a conference call to discuss the financial results at 1:30pm PT/ 4:30pm ET on the same day.

Investors can join the conference call via toll-free number 1-833-316-0546 (US) or international number 1-412-317-0692. The call will also be webcast live in the 'Events & Presentations' section of P3's Investor page. An archived recording of the webcast will be available on the company's website for 90 days following the conference call.

P3 Health Partners (NASDAQ: PIII), a leader in population health management, announced a strategic partnership with Innovaccer, a prominent healthcare AI company.

This collaboration aims to advance value-based care by leveraging Innovaccer's Healthcare AI Platform to improve patient outcomes, optimize costs, and enhance the patient and clinician experience. The platform will help P3 Health Partners unify, aggregate, and normalize clinical and claims data, reducing administrative tasks, improving data integration, and enhancing analytics for better care management.

P3 will utilize Innovaccer's EHR-agnostic physician engagement solution, population health analytics suite, and patient engagement solution to close care gaps and drive better patient engagement across its regions.

P3 Health Partners (NASDAQ: PIII), a population health management company, announced its participation in upcoming investor conferences. These include the William Blair 44th Annual Growth Stock Conference in Chicago, IL on June 4, 2024, where P3 will present at 12:20 pm Eastern Time, and the Jefferies Healthcare Conference in Miami Beach, FL on June 6, 2024, with a presentation at 11:00 am Eastern Time.

Both presentations will be webcast live on P3's investor relations website, with replays available for 90 days following the events.

P3 Health Partners announced a definitive agreement for a $42.2 million private placement with institutional investors, led by affiliates of Chicago Pacific Founders (CPF). The company will issue approximately 67.4 million units at $0.6270 per unit, each including one share of Class A common stock and a warrant to buy another share at $0.5020. Net proceeds will be used for working capital and general corporate purposes. Closing is expected around May 24, 2024, subject to conditions. William Blair & Company served as the sole placement agent.

P3 Health Partners Inc. (NASDAQ: PIII) reported the approval of employment inducement equity grants to Aric Coffman, M.D., who will serve as the Chief Executive Officer and President. The grants include a stock option for 12,100,000 Class A shares of Common Stock and a restricted stock unit (RSU) award for 4,400,000 shares of Common Stock. Both awards are subject to vesting conditions based on Dr. Coffman's employment and the company's performance.

P3 Health Partners announced its first quarter 2024 results, showcasing a 29% year-over-year revenue growth. Dr. Aric Coffman joined as CEO, with a focus on achieving profitability in 2024. The company reaffirmed its 2024 guidance, aiming for Adjusted EBITDA positivity. Total revenue was $388.5 million, capitated revenue saw a significant increase, but gross profit saw a decline. The net loss improved slightly, while Adjusted EBITDA loss also increased. Fiscal 2024 guidance outlines ambitious targets for at-risk members, total revenues, medical margin, and Adjusted EBITDA.