ALHAMBRA, Calif., Oct. 2, 2019 /PRNewswire/ -- Apollo Medical
Holdings, Inc. ("ApolloMed" or the "Company") (NASDAQ: AMEH), an
integrated population health management company, today announced
that it has entered into a new Management Services Agreement
("MSA"), effective January 1, 2020,
to provide management services, via a subcontract agreement, to an
independent practice association ("IPA group"). The IPA group
currently serves approximately 145,000 members in three main
markets within Southern
California; South Los
Angeles, San Fernando Valley, and Antelope Valley. The
majority of the members are enrolled in Medi-Cal, with members also
enrolled in Medicare Advantage and Commercial health plans, and are
supported by a network of hundreds of primary care physicians and
nearly a thousand specialists to provide exceptional care for its
members.
"This agreement significantly bolsters the number of members
under our management and expands our reach into new communities
within Southern California and
providing growth in our management services platform. Consistent
with our strategic plan, this agreement also brings the opportunity
to further scale our business model and realize additional
efficiencies," said Kenneth Sim,
M.D., Executive Chairman and Co-Chief Executive Officer of
ApolloMed. "We are in excellent position to support the financial
goals and enable organizational success of the IPA group for years
to come," stated Dr. Kenneth
Sim.
About Apollo Medical Holdings, Inc.
ApolloMed is a leading physician-centric integrated population
health management company, which, together with its subsidiaries,
including a Next Generation Accountable Care Organization
("NGACO"), and its affiliated IPAs and management services
organizations ("MSOs"), are working to provide coordinated,
outcomes-based high-quality medical care for patients, particularly
senior patients and patients with multiple chronic conditions, in a
cost-effective manner. ApolloMed focuses on addressing the
healthcare needs of its patients by leveraging its integrated
health management and healthcare delivery platform that includes
Network Medical Management, Inc. (a MSO), Apollo Medical
Management, Inc. (a MSO), ApolloMed Hospitalists, APA ACO,
Inc. (the Company's NGACO), Allied Physicians of California IPA, a
Professional Medical Corporation d.b.a Allied Pacific of California
IPA (an IPA) and Apollo Care Connect, Inc. (the Company's Digital
Population Health Management Platform). For more information,
please visit www.apollomed.net.
Forward Looking Statements
This press release contains forward-looking
statements within the meaning of the Private Securities
Litigation Reform Act of 1995, Section 27A of the Securities Act of
1933, as amended, and Section 21E of the Securities Exchange Act of
1934, as amended, such as statements about the Company's
acquisition strategy, integration of its acquired companies,
continued growth and business outlook, ability to deliver
sustainable long-term value, ability to respond to the changing
environment, operational focus and strategic growth
plans. Forward-looking statements reflect current views with
respect to future events and financial performance and therefore
cannot be guaranteed. Such statements are
based on the current expectations and certain assumptions
of the Company's management, and some or all of such expectations
and assumptions may not materialize or may vary significantly from
actual results. Actual results may also vary materially from
forward-looking statements due to risks, uncertainties and other
factors, known and unknown, including the risk factors described
from time to time in the Company's reports to the SEC, including,
without limitation, the risk factors discussed in
the Company's Annual Report on Form 10-K filed
with the SEC on March 18, 2019.
FOR MORE INFORMATION, PLEASE CONTACT:
Asher Dewhurst
(443) 213-0500
asher.dewhurst@westwicke.com
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SOURCE Apollo Medical Holdings, Inc.