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Privia Health
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Updated Nov 5, 2026
Privia Health raises 2026 guidance above initial high end, acquires Cano Health ACO for $36M, exits Montana partnership with Surgery Partners
Privia Health delivered year-to-date practice collections growth of 12% and adjusted EBITDA growth of 21.9% through Q3 2026, driving a full raise of 2026 guidance above the high end of initial targets across all key metrics. The company simultaneously announced the $36 million acquisition of American Choice Healthcare MSSP ACO from Cano Health, adding 36,000 attributed lives and expanding the Privia Care Partners footprint into three new states beginning January 2027. The Montana exit with Surgery Partners, covering 69 providers and approximately $23 million in annual practice collections, is expected to have no material EBITDA impact in 2027, reflecting Privia's rising bar for market-level returns as its balance sheet now exceeds $520 million in cash.
Tone: bullishRevenue
$2.1B
PRVA 10-K · FY 2025
Employees
1,226
Revenue FY2024
$1.7B
Founded
2016
Profile
PRVA 10-K Item 1 · Feb 27, 2026Privia Health Group is a technology-driven, national physician-enablement company that organizes existing physicians and non-physician clinicians into regional medical groups combining large-group advantages with provider autonomy. The company operates across fee-for-service and value-based care reimbursement environments, offering a cloud-based technology platform, revenue cycle management, and population health services. Its model is designed to transition physician practices from fee-for-service to value-based care while improving provider economics, patient outcomes, and payer alignment.
Read filing description ↓ Collapse description ↑
Privia Health Group, Inc. is a technology-driven, national physician-enablement company that collaborates with physician practices, health plans, and health systems to achieve the quadruple aim of better outcomes, lower costs, improved patient experience, and happier and more engaged providers. We seek to accomplish the quadruple aim by entering markets and organizing existing physicians and non-physician clinicians into a unique practice model that combines the advantages of a partnership in a large regional medical group with significant provider autonomy for the physicians and non-physician clinicians in our Medical Groups. We organize physicians into cost efficient, value-based and primary-care centric networks bolstered by strong physician governance, and promote a culture of physician leadership. Our technology and service solutions are powered by our Privia Technology Solution that integrates both Privia-developed and third-party applications into a seamless interface and workflow that manages all aspects of our Privia Providers' provision of healthcare services. We enhance the patient experience, improve practice economics and influence point of care delivery through investments in data analytics, revenue cycle management, practice and clinical operations and payer alignment. The Privia Platform is designed to succeed across demographic cohorts, acuity levels and reimbursement models, including traditional fee-for-service Medicare, the Medicare Shared Savings Program, Medicare Advantage, Medicaid, commercial insurance and other existing and emerging direct contracting programs with payers and employers. We currently have a presence in 24 states and the District of Columbia, including 9 states in which we only participate in VBC arrangements. As of December 31, 2025, we had 5,380 Privia Providers who are credentialed and bill for medical services. Privia cares for over 5.8 million patients.
Primary products
- Privia Platform
- Privia Technology Solution
- Management Services Organization (MSO)
- Accountable Care Organizations (ACOs)
- Revenue Cycle Management (RCM)
- Virtual Visits
End markets
Geographies
Named customers
Named competitors
“We believe our practice model and breadth of services offered to all patient types is unique, and we therefore compete with different companies across certain lines of business, including companies with: dedicated brick-and-mortar locations which often target patients covered by Medicare Advantage plans; dedicated, direct primary care locations which often target a commercial or employer-based patient population; the ability to organize providers into accountable care organizations, allowing physicians to participate in VBC arrangements; and the ability to partner with physicians groups to enable better care delivery primarily for seniors.” Competitive position, as stated in the filing
Revenue commentary · FY 2025
Revenue grew from $1.74 billion in 2024 to $2.12 billion in 2025, with prior-year 2023 revenue of $1.66 billion, reflecting continued expansion across fee-for-service and value-based care reimbursement streams.
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