Polsinelli recently advised Astrana Health (Astrana) in entering into a definitive agreement to acquire a portion of the business and assets of Prospect Health for a purchase price of $745 million. Astrana Health is a provider-centric, technology powered leading health care company that enables providers to deliver accessible, high quality and high value care in the communities it serves. Astrana is set to acquire a portion of Prospect Health that consists of certain businesses and assets relating to Prospect Health System, including its California licensed health care service plan (Prospect Health Plan), medical groups in California, Texas, Arizona and Rhode Island (Prospect Medical Groups), management service organization (Prospect Medical Systems), pharmacy (RightRx) and Alta Newport Hospital dba Foothill Regional Medical Center, a fully accredited acute care hospital with 177 licensed beds.

Astrana's acquisition of Prospect is expected to close in the middle of 2025, subject to regulatory approvals and other customary closing conditions.

The transaction will create a more coordinated care delivery network to benefit communities Astrana Health serves by increasing access, quality, value and efficiency. The partnership between Astrana and Prospect will also help ensure that healthcare remains local and personalized for patients across Arizona, California, Rhode Island and Texas.

More information about the transaction can be found here.

Polsinelli advised Astrana Health on health care, privacy and cybersecurity, federal antitrust and similar state law matters involved in the transaction. Health Care Shareholders Paul A. Gomez (Co-Chair of Behavioral Health) and Ashley N. Osak led the team. Additional support was provided by Shareholders Sean A. Timmons, Sarah R. Kocher, Ryan B. Thurber, Joelle M. Wilson, Matthew C. Hans, C. Ryan Morgan, Iliana L. Peters, Starr Turner Drum, Kyle A. Vasquez, Lauryn A. Sanders, Jared O. Brooner and Jonathan F. Buck, as well as Counsel Ronke Fabayo and Jasmine C. González, and Associates Tish R. Pickett, Natalie A. Bartolovic, Eleanor R. Brown, Matthew T. Lin, Colleen E. Guinn, Kathleen Snow Sutton, Mary H. Canavan, Joshua D. McCann, Ryan J. Mize, Allison G. Dressel, Erica L. (Beacom) Reagan and Elizabeth Snyder.