(Note: Privia Health priced its upsized IPO on April 28, 2021, at $23 – the top of its upwardly revised range of $21 to $23 – on 19.5 million shares, the same number as in the prospectus, to raise $448.5 million. Privia had increased its price range to $21 to $23, up from $17 to $19, on the same number of shares – 19.5 million – in an S-1/A filing dated April 28, 2021. The pricing date for Privia Health’s IPO was accelerated to Wednesday night, April 28, to start trading on Thursday, April 29, according to Wall Street sources on Monday afternoon.)

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 care settings (the “Privia Platform”). Privia operates in six states and the District of Columbia, covering over 70 target metropolitan statistical areas (MPSAs), including 20 of the largest 100 MPSAs). We started in 2013 by partnering with small and large independent physician practices focused on primary care, pediatrics, women’s health and select subspecialties focused on treating chronically ill patients. We now have more than 2,770 Privia Providers who have signed to join our platform as of Dec. 31, 2020.  

We directly address three of the most pressing issues facing physicians today: the transition to the value-based care (“VBC”) reimbursement model, the ever-increasing administrative requirements to operate a successful medical practice, and the need to engage patients using modern user-friendly technology. We seek to accomplish these objectives by entering markets and organizing existing physicians and non-physician clinicians into a unique practice model (our Medical Group model) that combines the advantages of a partnership in a large regional medical group with significant local autonomy for the physicians and non-physician clinicians joining our Medical Groups. Our Medical Groups are designated as in-network by all major health insurance plans in all of our markets, and all Privia Providers are credentialed with such health insurance plans. The Privia Platform is designed to succeed across demographic cohorts, acuity levels and reimbursement models, including traditional fee-for-service (“FFS”) Medicare, the Medicare Shared Savings Program (“MSSP”), Medicare Advantage, Medicaid, commercial insurance and other existing and emerging direct contracting programs with payers and employers.