ApolloMed Announces The Acquisition Of Bay Area Hospitalist Associates
GLENDALE, Calif., Nov. 16, 2016 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed" or "the Company") (OTC: AMEH), an integrated population health management company, today announced the acquisition of Bay Area Hospitalist Associates, a hospitalist, intensivist and post-acute care practice with a presence at four hospitals and several skilled nursing facilities in San Francisco.
Under the terms of the stock purchase agreement, an affiliate of ApolloMed acquired 100% of the equity in Bay Area Hospitalist Associates ("BAHA"). The two companies had previously entered into a management services agreement in March 2015 under which Apollo Medical Management provided management services to BAHA and BAHA became a variable interest entity of ApolloMed. The operations and employees of BAHA will be integrated into ApolloMed, and the acquisition will strengthen ApolloMed's leadership bench, expand its customer base and deepen its geographic footprint in Northern California.
Headquartered in San Francisco and founded in 2010, BAHA provides hospitalist, intensivist and post-acute care services at three acute care hospitals, one long-term acute care hospital and several skilled nursing facilities. The group, founded by Dr. Scott Enderby, currently has approximately 30 hospitalist physicians, 6 intensivists and 4 nurse practitioners, in addition to an office staff of 5 personnel.
"We are excited to join ApolloMed and believe we will be better positioned to fulfill our core mission of delivering world-class care for our patients. Additionally, our employees will benefit from becoming part of a larger, more diversified company," stated Scott Enderby, D.O., Founder and Chief Executive Officer of Bay Area Hospitalist Associates. "ApolloMed shares our vision of transforming the hospital medicine industry and was a natural complement for us."
"BAHA has a superb reputation in the San Francisco Bay Area and we are very excited to welcome Scott and his team to the ApolloMed family," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings. "Together, we believe we can bring the full force of our combined resources to expand further in Northern California."
About Apollo Medical Holdings, Inc.
Founded in 2001 and headquartered in Glendale, California, ApolloMed is an integrated population health management company committed to providing exceptional multi-disciplinary care in the communities it serves. ApolloMed is addressing the healthcare needs of its patients by leveraging its integrated healthcare delivery platform comprised of: ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization), Maverick Medical Group (Independent Physician Association), Apollo Care Connect, Apollo Medical Management and Apollo Palliative Services. ApolloMed strives to improve medical outcomes with high-quality, cost-efficient care. For more information, please visit www.apollomed.net
Forward Looking StatementsThis press release may contain forward-looking statements, including information about management's view of future expectations, plans and prospects for Apollo Medical Holdings, Inc. ("the Company"). In particular, when used in the preceding discussion, the words "predicts," "believes," "expects," "intends," "seeks," "estimates," "plans," "anticipates," and similar conditional expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could" are intended to identify forward-looking statements. In addition, our representatives may from time to time make oral forward-looking statements. Any such statements, other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based on the current expectations and certain assumptions of the Company's management. Such statements are, therefore, subject to a variety of known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company, its subsidiaries and concepts to be materially different than those that may be expressed or implied in such statements or anticipated on the basis of historical trends. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company's actual results, performance or achievements may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. Unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included herein are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update or revise these forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended March 31, 2016 and in any of the Company's other subsequent Securities and Exchange Commission filings.
FOR ADDITIONAL INFORMATIONApolloMedGary Augusta818-839-5200 or via email at firstname.lastname@example.org
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SOURCE Apollo Medical Holdings, Inc.