Who Owns agilon health Company?

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Who Truly Owns Agilon Health?

Understanding the ownership structure of a company is paramount for investors and stakeholders alike. Agilon Health's journey, marked by its 2021 IPO, offers a compelling case study in evolving ownership dynamics. This exploration delves into the key players and significant shifts that have shaped the company's trajectory, impacting its strategic direction and market performance.

From its founding in 2016 to its current status, agilon health has undergone significant transformations. The company's initial public offering was a pivotal moment, and understanding the subsequent changes in agilon health ownership is crucial. This analysis will examine the influence of agilon health investors, the role of its executives, and the overall impact on the agilon health SWOT Analysis.

The formation of agilon health in October 2016 marked the beginning of its journey, spearheaded by Clayton, Dubilier & Rice, LLC (CD&R), a private equity firm based in New York. This venture was a collaborative effort, with Ron Williams, a former Aetna executive and operating advisor to CD&R, playing a pivotal role.

Ron Williams and Ravi Sachdev are both recognized as founders. Williams served as a director and chairman of the board, while Sachdev, a CD&R partner specializing in healthcare, also held a director and vice chairman position. The vision of the founding team centered on enabling physician groups to transition to a value-based care model, specifically for senior patients.

At the time of its initial public offering (IPO) in April 2021, CD&R, through a fund, held a significant stake in agilon health, controlling approximately 69% of the shares before the offering. This substantial ownership by the private equity firm underscored its early influence and investment in the company. Ron Kuerbitz, appointed CEO in February 2017, was also a key figure in the early leadership of agilon health.

Key Founders and Ownership Details

The initial ownership structure of agilon health was heavily influenced by CD&R, the private equity firm that co-founded the company. Key individuals like Ron Williams and Ravi Sachdev were integral to the company's formation and early leadership. Understanding the early ownership structure is crucial for assessing the company's trajectory and the influence of its major shareholders.

• CD&R, in collaboration with Ron Williams, founded agilon health.
• Ron Williams, a co-founder and former Aetna executive, served as chairman.
• Ravi Sachdev, a CD&R partner, was also a founder and held a vice chairman position.
• At the IPO, a CD&R fund owned approximately 69% of agilon health.
• Ron Kuerbitz was appointed CEO in February 2017.

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The ownership structure of agilon health has evolved significantly since its initial public offering (IPO) on April 15, 2021. The IPO raised approximately $1.07 billion. The market capitalization of agilon health has seen a considerable decrease. As of June 13, 2025, the market capitalization stood at $896.21 million, a decrease of 89.87% from its initial value of $8.85 billion.

The evolution of agilon health's ownership reflects shifts in investor confidence and strategic decisions. The company's performance and market dynamics have influenced the distribution of shares among various stakeholders, including institutional investors, insiders, and the public. These changes impact the company's governance and future direction.

Institutional investors hold a dominant position in agilon health's stock. As of March 31, 2025, institutional investors held a significant portion of the company's stock. A total of 389 institutional owners held 511,453,199 shares. Clayton, Dubilier & Rice, LLC, held 100,000,000 shares, and Capital World Investors held 53,406,935 shares. According to May 2025 data, institutional investors held 95.93% of the shares, and mutual funds held 75.27%. In April 2025, institutional investors' holding remained at 95.93%, with mutual funds increasing their holdings from 75.08% to 75.27%. These large institutional holdings underscore their influence on the company's strategic direction and governance.

Key Ownership Insights

Understanding the ownership structure of agilon health is crucial for investors and stakeholders. The company's ownership is primarily held by institutional investors, with significant holdings by Clayton, Dubilier & Rice, LLC, and Capital World Investors.

• Institutional investors hold a significant majority of the shares.
• CD&R remains a major shareholder following the secondary offering.
• The public and individual investors hold a notable percentage of shares.
• These ownership dynamics influence the company's strategy and governance.

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The current board of directors of agilon health includes a mix of individuals, representing major shareholders, founders, and independent seats. The leadership team is composed of both founders and experienced executives. Steven Sell is the Chief Executive Officer (CEO) and a director. Co-founders Ronald Williams and Ravi Sachdev also hold key positions on the board. Ron Williams serves as the co-founder and chairman of the board, while Ravi Sachdev is a founder, director, and vice chairman, also representing Clayton, Dubilier & Rice (CD&R).

Other board members include Silvana Battaglia, who joined in June 2023, Sharad Mansukani, M.D., serving since 2017, Diana L. McKenzie, and Karen McLoughlin, who joined in July 2021. William Wulf, M.D. is also a board member. Jeffrey A. Schwaneke, who joined as Chief Financial Officer in 2024, is also a director on agilon's Board. This diverse board composition reflects the company's commitment to a range of expertise and perspectives, which is crucial for guiding the company's strategic direction. For more details, you can refer to the Growth Strategy of agilon health.

While specific details on dual-class shares or special voting rights are not explicitly detailed in the provided information, the significant ownership by CD&R suggests their continued influence in strategic decisions and governance. The presence of CD&R partners on the board, such as Ravi Sachdev, further solidifies this connection. The company's proxy statements, such as the one filed in April 2025 for the May 2025 annual meeting, outline the election of directors and other governance matters, indicating a standard one-share-one-vote structure unless otherwise specified in their bylaws. Understanding the agilon health ownership structure is key for investors to assess the balance of power and potential influences on the company's future direction. As of the latest filings, the company continues to operate with a focus on its mission, guided by its board and leadership.

Key Takeaways

The board includes founders, executives, and representatives from major shareholders like CD&R.

• Steven Sell is the CEO and director.
• Ron Williams is co-founder and chairman.
• Ravi Sachdev is a co-founder, director, and vice chairman, representing CD&R.
• The board reflects a mix of interests, influencing strategic decisions.

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Over the past few years, the ownership structure of agilon health has seen some significant changes. In May 2023, a secondary public offering of shares occurred, though the company itself did not receive any proceeds from this offering. Following this, CD&R retained roughly 26.6% ownership of agilon health. These shifts highlight the dynamic nature of agilon health's ownership, reflecting strategic decisions by major stakeholders.

Recent leadership appointments also provide insight into the company's direction. Jeff Schwaneke joined as Chief Financial Officer in 2024, and Dr. Karthik Rao and Dr. Kevin Spencer were named Chief Medical Officer and Chief Clinical Officer, respectively, also in 2024. These additions underscore the company's focus on strengthening its financial and clinical leadership teams. For more details, you can check out a Brief History of agilon health.

Industry trends show a high level of institutional investment in agilon health. As of May 2025, institutional investors held 95.93% of the shares, with mutual funds holding 75.27%. While there was a slight decrease in institutional holdings in May 2025, the overall institutional ownership remains substantial. The company is also focused on strategic initiatives such as reducing underwriting risks, improving platform capabilities, and maintaining cost discipline, including market partnership and payer contract exits of approximately 54,000 members.

Institutional Ownership

Institutional investors hold a significant majority of agilon health shares, reflecting confidence from major financial entities. Mutual funds also represent a substantial portion of the ownership, indicating broad market interest.

Strategic Initiatives

The company is focused on reducing risks and improving platform capabilities. This includes managing its Medicare Advantage membership growth and maintaining cost discipline.

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