ALHAMBRA, Calif., July 31,
2023 /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,
today announced an agreement to partner with IntraCare, an operator
of a value-based primary care provider network and primary care
clinics located predominantly in Texas with a growing presence in Oklahoma.
Headquartered in the Dallas-Fort
Worth metropolitan area of Texas, IntraCare is aligned with over 425
providers managing the care of over 40,000 members. Like ApolloMed,
IntraCare is on a mission to build a thriving healthcare ecosystem
that promotes successful, independent physicians, strengthens the
patient-physician relationship, and improves patient satisfaction
and healthcare outcomes through quality, compassionate coordinated
care.
ApolloMed's partnership with IntraCare is poised to accelerate
access to high-quality, value-based care for seniors in three
areas. First, ApolloMed's ACO will partner with IntraCare's primary
care providers as part of the ACO REACH program, an
attribution-based risk-bearing model designed to advance health
equity and bring the benefits of accountable care to Medicare
beneficiaries in underserved communities. In addition, ApolloMed
will deploy its value-based care platform as the exclusive care
enablement partner for IntraCare providers participating in the ACO
REACH program. Finally, to further IntraCare's mission and growth,
ApolloMed will lend IntraCare a $25
million senior secured convertible promissory note maturing
in 2028. Guggenheim Securities, LLC acted as financial advisor to
IntraCare in connection with the transactions.
Brandon Sim, Co-CEO of ApolloMed,
stated, "We have admired IntraCare's demonstrated track record of
successfully empowering local independent primary care practices in
Texas and Oklahoma, a strategy which is aligned with and
complementary to our success in our core markets. With this
partnership, we are excited to build upon IntraCare's momentum and
partner with their providers in our ACO, continuing to scale our
Care Partners business. We also look forward to bringing our Care
Enablement platform to these providers and will work closely with
IntraCare's leadership team in continuing to expand upon their
historical success while exploring additional avenues for
collaboration down the road."
Anwar Kazi, CEO of IntraCare,
added, "We are thrilled to be partnering with ApolloMed, a company
that is aligned with IntraCare in its mission of empowering
providers in the successful delivery of value-based care. We
believe that joining forces with ApolloMed will enable us to
accelerate the growth of our business as we look to continue
expanding our affiliate network and owned clinic footprint within
our existing geographic presence in Texas and Oklahoma."
About Apollo Medical Holdings, Inc.
ApolloMed is a leading physician-centric, technology-powered,
risk-bearing 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 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 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 operational focus and strategic growth plans
and expectations regarding its ability to successfully partner with
third parties. 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 Securities and Exchange Commission
("SEC"), including without limitation the risk factors discussed in
the Company's Annual Report on Form 10-K for the year ended
December 31, 2022, filed with the SEC
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
(408) 538-4577
csohn@equityny.com
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SOURCE Apollo Medical Holdings, Inc.