ALHAMBRA, Calif., October 5, 2022 /PRNewswire/ — Apollo Medical Holdings, Inc. (“ApolloMed” and, together with its subsidiaries and affiliates, the “Company”) (NASDAQ: AMEH), a leading physician-centric healthcare company focused on technology healthcare providers in the successful delivery of value-driven care, today announced that it and its affiliated professional entity have entered into a definitive agreement to acquire 100% of the related capitalization and fully diluted assets at nine primary care clinics in Vegas, Houstonand fort worth operating as Valley Oaks Medical Group (“VOMG”).
VOMG provides high-quality, value-based primary care services to its local communities and serves more than 20,000 patients, including approximately 6,000 Medicare members. Through this transaction, ApolloMed will deploy its value-based care management and operational platform to enable providers employed by VOMG to deliver the best clinical outcomes while improving the healthcare experience of its patients. The acquisition also marks ApolloMed’s entry into the operation of primary care clinics in both Nevada and Texas, and extends ApolloMed’s membership to all nine VOMG centers. The Company expects to close this transaction by the end of the fourth quarter of 2022 and will finance the transaction with available cash.
BrandonSimco-CEO of ApolloMed, said, “We are very pleased to welcome Valley Oaks Medical Group to the ApolloMed family, and we look forward to continuing to develop and improve value-based healthcare experiences for patients. new and existing patients in Vegas, Houstonand fort worth. Our partnership will allow us to bring our unique model of care to key new geographic markets, and we look forward to continuing to provide equitable, high-quality health care to underserved populations with high rates of chronic disease in these communities. . »
Guru Charan, CEO of Valley Oaks Medical Group, added, “We believe the diverse populations served by VOMG will greatly benefit from the industry-leading services provided by ApolloMed, made possible by its scale, care delivery infrastructure and management systems. care. A leader in value-based care, ApolloMed is well equipped to help us continue our tradition of superior patient care. We are excited for the months and years to come as we join the ApolloMed family.
About Apollo Medical Holdings, Inc.
ApolloMed is a leading physician-centric, technology-driven, and risk-based healthcare management 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 agreements, enabling them to deliver care of high quality to patients in a cost effective manner.
Based at Alhambra, California, ApolloMed’s subsidiaries and affiliates include Management Service Organizations (MSOs), Independent Practice Associations (IPAs) affiliates, and entities participating in the Centers for Medicare & Medicaid Services Innovation Center (CMMI) innovation models . 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, continued growth, operating direction and strategic growth plans. Forward-looking statements reflect current views regarding future events and financial performance and therefore cannot be guaranteed. These statements are based on the current expectations and certain assumptions of the Company’s management, and some or all of these expectations and assumptions may not materialize or may differ materially from actual results. Actual results may also differ materially from forward-looking statements due to known and unknown risks, uncertainties and other factors, including the risk factors described from time to time in the Company’s reports to the Securities and Exchange. Commission (“SEC”), including, without limitation, the risk factors discussed in the company’s annual report on Form 10-K for the fiscal year ended December 31, 2021and all subsequent quarterly reports on Form 10-Q.
FOR MORE INFORMATION PLEASE CONTACT:
Investor Relations
(626) 943-6491
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Caroline SohnThe Equity Group
(415) 568-2255
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SOURCEApollo Medical Holdings, Inc.
