FOUNDER, CEO ALIGNMENT HEALTHCARE ORANGE
Heads one of OC’s fastest growing public companies, population health management company that partners with national health systems and provider groups to improve the health of seniors. Offers increasingly popular Medicare Advantage insurance plans; plans are required to cover traditional Medicare expenses such as doctor visits and hospital costs, and also offer extra coverage for needs such as vision, dental and hearing exams, and prescription drugs.
THEN: March 2021 IPO raised nearly $500M in proceeds, with funds going to expand Alignment’s reach beyond the three states — California, Nevada, North Carolina—it initially covered.
NOW: First-quarter revenue of $346M represented 29% growth year-over-year. “This was led by our health plan premium revenue of $331M, representing 25% growth,” Kao said in May. Alignment’s health plan membership ended at 94,200 members at end of latest quarter, growing 13.4% year-over-year.
FUTURE: Has entered the Arizona market as its fourth state, with the company entering Pima and Maricopa counties; with additions there and other markets in existing states, has increased the total number of Medicare eligibles in Alignment’s geographies from 5.5 million to 7 million.
IN THEIR WORDS: Company “continues to do well by doing good—delivering sustainable growth and once again beating guidance on our four critical metrics: membership, revenue, adjusted gross profit and adjusted EBITDA,” Kao said in May. “This is a strong quarter for Alignment and caps a solid first year of growth as a public company, having met or outperformed guidance every quarter since listing.”
