P3 Health Partners Inc

P3 Health Partners Inc. is a patient-centered, physician-led population health management company focused on value-based care for Medicare members. It supports a network of more than 2,000 affiliated primary care providers with care coordination and administrative services intended to improve patient outcomes and lower costs. Its local care teams manage patients in 26 counties across five states. P3 earns most of its revenue through capitation arrangements with health plans, under which it receives a fixed percentage of premium for at-risk Medicare members. It also generates other revenue, including from management service arrangements. As of the third quarter of 2026, the company served roughly 105,000 at-risk members and about 133,500 total lives under management, after intentionally rationalizing its network and payer relationships. The company recapitalized in 2026, issuing several series of cumulative preferred stock and reducing long-term debt. Updated Nov 9, 2026