General Atlantic, which held a 10% indirect ownership position in Alignment Healthcare, sold 11.1 million shares in an open­-market transaction valued at approximately $206.5 million. This disposal represents a 45.2% reduction of its indirect position, leaving the growth equity firm with 13.5 million shares across affiliated entities. The transaction aligns with a pattern of systematic reductions observed since September 2025 and did not affect any direct holdings, as confirmed in the SEC Form 4 filing.

In its third quarter of fiscal 2025, Alignment Healthcare reported revenue of $993.7 million, up 43.5% year­-over­-year, and delivered 31% growth in Medicare Advantage membership to reach approximately 305,000 members. The company outperformed the high end of its prior guidance on revenue, adjusted gross profit and membership, driving a full­-year outlook upward across key metrics including adjusted EBITDA. Alignment Healthcare’s tech-­enabled platform and consumer­-centric care coordination model continue to underpin its rapid expansion in California, North Carolina and Nevada.

Despite the company’s strong recent performance and a 74% year­-over­-year stock appreciation, projections from the Centers for Medicare & Medicaid Services anticipate a modest decline in overall Medicare Advantage enrollment—from 50% of total Medicare beneficiaries in 2025 to around 48% in 2026. Investors are advised to weigh the potential impact of this projected market contraction against Alignment Healthcare’s growth trajectory and technological differentiation in the senior care segment.