ALHAMBRA, Calif., Dec. 21, 2021 /PRNewswire/ -- Apollo Medical
Holdings, Inc. ("ApolloMed," and together with its subsidiaries and
affiliated entities, the "Company") (NASDAQ: AMEH), a leading
physician-centric, technology-powered healthcare company focused on
enabling providers in the successful delivery of value-based care,
announced today that its affiliate, AP-AMH 2 Medical Corporation,
has entered into a definitive agreement to acquire 100% of the
fully diluted capitalization of Jade Health Care Medical Group
("Jade Health"), a primary and specialty care physicians' group
focused on providing high-quality care to its local communities.
The Company anticipates closing this transaction by the end of the
second quarter of 2022 and will fund the transaction from cash on
hand.
Primarily serving patients in the San
Francisco Bay Area in Northern
California, Jade Health is a risk-bearing organization that
has successfully provided culturally competent, linguistically
appropriate, professional services to members in its local
communities since 2016. Jade Health is committed to delivering
high-quality, affordable healthcare to Medicaid, Medicare, and
Commercial members through its over 350 primary and specialty care
providers.
The transaction will add approximately 13,000 members,
primarily located in the City and County of San Francisco and San Mateo County, to ApolloMed's membership
under capitated arrangements. In addition, Jade Health and its
providers will onboard onto ApolloMed's technology and operations
MSO platform by the close of the transaction.
Brandon Sim, Co-Chief Executive
Officer of ApolloMed, stated, "Following the acquisition of Access
Primary Care Medical Group earlier this year, we are very excited
to be expanding our presence in Northern
California with the addition of Jade Health Care Medical
Group to the ApolloMed family. We look forward to working closely
with the Jade Health leadership team to further improve patient
experiences and clinical outcomes, drive growth in their existing
lines of business, particularly Medicare Advantage, and maintain
their commitment to affordable, high-quality, culturally sensitive
care for their patients and communities."
Gustin Ho, M.D., Board Chairman
of Jade Health, added, "We are pleased to begin this partnership
with ApolloMed and are eager to onboard our providers onto their
technology platform, which we believe will help to drive
operational efficiencies and improved outcomes for our
patients."
About Apollo Medical Holdings, Inc.
ApolloMed is a
leading physician-centric, technology-powered, risk-bearing
healthcare company. Leveraging its proprietary end-to-end
technology solutions, ApolloMed operates an integrated healthcare
delivery platform that enables providers to successfully
participate in value-based care arrangements, thus empowering them
to deliver high quality care to patients in a cost-effective
manner.
Headquartered in Alhambra,
California, ApolloMed's subsidiaries and affiliates include
management services organizations (MSOs), affiliated independent
practice associations (IPAs), and a Next Generation Accountable
Care Organization (NGACO). 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 possible acquisition of Jade Health and Jade
Health's growth, acquisition strategy, ability to deliver
sustainable long-term value, operational focus, and strategic
growth and expansion 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
ApolloMed'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 ApolloMed's reports filed with the Securities
and Exchange Commission, including, without limitation, the risk
factors contained in ApolloMed's Annual Report on Form 10-K for the
year ended December 31, 2020 and any
subsequent Quarterly Reports on Form 10-Q.
FOR MORE INFORMATION, PLEASE CONTACT:
Investor
Relations
(626) 943-6491
investors@apollomed.net
Carolyne Sohn,
The Equity Group
(415) 568-2255
csohn@equityny.com
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SOURCE Apollo Medical Holdings, Inc.