ApolloMed secures $10M equity investment: 10 things to know about the company

Glendale, Calif.-based Apollo Medical Holdings has secured a $10 million strategic equity investment from Network Medical Management to expand the integrated care it offers patient members of its accountable care organization and those seeking treatment at its affiliated providers.

Here are 10 things to know about ApolloMed.

1. ApolloMed is an integrated population health management company founded in 2001.

2. The company works to provide hospitals, health plans and physicians with cost-effective, quality healthcare solutions. ApolloMed aims to coordinate care with primary care physicians, reducing admissions and readmissions, and fostering patient-centered care.

3. ApolloMed's integrated care network consists of more than 1,000 physicians and more than 50 hospitals and skilled nursing facilities. The company also manages and operates four preventive and transitional care-focused primary care clinics.

4. ApolloMed became publicly traded in 2009 and formed ApolloMed ACO in 2012, which beat its beneficiary expenditures benchmark for the second time in 2014.

5. ApolloMed comprises the complementary physician groups ApolloMed Hospitalists, Maverick Medical Group, AKM Medical Group, ApolloMed Care Clinics and Apollo Palliative Services.

6. In a June statement, ApolloMed CEO Warren Hosseinion, MD, said the company is on track to tie 90 percent of all its Medicare payments to quality and value by the end of 2018, surpassing the government's 50 percent goal.

7. Today, the company announced a $10 million strategic equity investment from Network Medical Management, one of the largest healthcare management service organizations in California.

8. ApolloMed plans to leverage this investment for population health management, hospitalist medicine, MSO and ACO services, and hospice care services, among other initiatives, that will lead to revenue opportunities for NMM as well, Dr. Hosseinion said in a statement.

9. In March, the company partnered with the University of Southern California in Los Angeles' Keck School of Medicine to launch the school's USC Hospitalist Leadership Fellowship Program at ApolloMed. The program is an intensive one-year training fellowship designed to provide graduates with valuable healthcare delivery experience.

10. In September, the company announced that William Abbott, then controller and vice president of finance for ApolloMed, would become interim CFO following the departure of Mitch Creem, who is now CEO of Integry Healthcare in New York City.

 

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