Privia Health to be Added to Russell 2000 Index

Rhea-AI Summary

Privia Health Group, Inc. (Nasdaq: PRVA) will join the Russell 2000 Index after the U.S. market opens on June 28, 2021. This addition follows the company's recent IPO and is expected to enhance awareness, increase stock liquidity, and broaden the shareholder base. The Russell 2000 Index tracks the performance of the 2,000 smallest stocks in the Russell 3000 Index, which comprises the largest U.S. companies. The reconstitution of Russell indexes is significant for investment strategies, with over $10.6 trillion in assets benchmarked to these indexes.

Positive

• Inclusion in the Russell 2000 Index is expected to increase stock liquidity.
• Joining the index may broaden the company's shareholder base.
• Company's recent IPO contributes to its market visibility.

Negative

• None.

ARLINGTON, Va., June 21, 2021 (GLOBE NEWSWIRE) -- Privia Health Group, Inc. (Nasdaq: PRVA), a technology-driven, national physician enablement company that collaborates with medical groups, health plans and health systems, today announced that it is set to join the Russell 2000^® Index at the conclusion of the 2021 Russell indexes annual reconstitution, effective after the U.S. market opens on June 28, 2021.

Annual Russell indexes reconstitution captures the 4,000 largest U.S. stocks as of May 7, ranking them by total market capitalization. Membership in the U.S. all-cap Russell 3000^® Index, which remains in place for one year, means automatic inclusion in either the large-cap Russell 1000^® Index or small-cap Russell 2000 Index as well as the appropriate growth and value style indexes. FTSE Russell determines membership for its Russell indexes primarily by objective, market-capitalization rankings and style attributes.

“The expected addition of Privia Health to the Russell 2000 Index is the latest milestone in our Company’s history, and closely follows our initial public offering and listing on the Nasdaq Global Select Market in late April of this year,” said Shawn Morris, Chief Executive Officer of Privia Health. “Our inclusion in this index will expand awareness of Privia Health within the investment community, increase the liquidity of our stock, and support our efforts to broaden our shareholder base and drive long-term shareholder value."

Russell indexes are widely used by investment managers and institutional investors for index funds and as benchmarks for active investment strategies. Approximately $10.6 trillion in assets are benchmarked against Russell’s U.S. indexes. Russell indexes are part of FTSE Russell, a leading global index provider.

For more information on the Russell 2000 Index and the Russell indexes reconstitution, go to the “Russell Reconstitution” section on the FTSE Russell website.

About Privia Health

Privia Health™ is a technology-driven, national physician enablement company that collaborates with medical groups, health plans, and health systems to optimize physician practices, improve patient experiences, and reward doctors for delivering high-value care in both in-person and virtual settings. Our platform is led by top industry talent and exceptional physician leadership, and consists of scalable operations and end-to-end, cloud-based technology that reduces unnecessary healthcare costs, achieves better outcomes, and improves the health of patients and the well-being of providers. For more information, visit priviahealth.com.

Safe Harbor Statement

This release may contain forward-looking statements within the meaning of the safe-harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements include all statements that do not relate solely to historical or current facts, including, but not limited to, statements regarding projections, future operations or plans, financial results, cash flows, costs and cost management initiatives, capital structure management, growth rates and operational and strategic initiative, and can also be identified by the use of words such as “may,” “will,” “projects,” “expects,” “anticipates,” “intends,” “plans,” “believes,” “estimates,” “continues,” “thinks,” “outlook,” “target,” and words or phrases of similar meaning.  These forward-looking statements speak only as of the date hereof and are based on our current plans and expectations and are subject to a number of known and unknown risks, uncertainties and other factors, many of which are difficult or impossible to predict and may be beyond our control. These risks and uncertainties include, but are not limited to, those factors described in our filings with the Securities and Exchange Commission, including those under “Risk Factors” therein. As a consequence, current plans, anticipated actions and future financial position and results of operations may differ materially from any future results or performance expressed or implied in any forward-looking statements in this press release. Given these uncertainties, you are cautioned not to place undue reliance on these forward-looking statements. The company undertakes no obligation to revise or update any of these statements, or to make any other forward‐looking statements, whether as a result of new information, future events or otherwise.

Contact
Robert Borchert
SVP, Investor & Corporate Communications
IR@priviahealth.com
817.783.4841

FAQ

When will Privia Health join the Russell 2000 Index?

Privia Health will join the Russell 2000 Index on June 28, 2021.

What does the inclusion of Privia Health in the Russell 2000 Index mean?

The inclusion is expected to enhance stock liquidity and increase awareness within the investment community.

What is the significance of the Russell 2000 Index for investors?

The Russell 2000 Index is widely used by investment managers and benchmarks over $10.6 trillion in assets.

How does Privia Health's IPO relate to its Russell 2000 Index inclusion?

The inclusion in the Russell 2000 Index closely follows Privia Health's initial public offering.