ALHAMBRA, Calif., Jan. 29,
2024 /PRNewswire/ -- Apollo Medical Holdings,
Inc.("ApolloMed," and together with its subsidiaries and affiliated
entities, the "Company") (NASDAQ: AMEH), a leading
provider-centric, technology-powered healthcare company enabling
providers to deliver accessible, high-quality, and high-value care
to all, today announced a strategic long-term partnership with BASS
Medical Group, one of the largest multi-specialty medical groups in
the Greater San Francisco Bay
Area.
The partnership will bolster BASS Medical Group's value-based
care and operational infrastructure, enabling them to successfully
participate in total cost of care arrangements and build more
effective care models integrating primary care and multi-specialty
care. Together, the two organizations will aim to bring
high-quality care via value-based arrangements to patients of all
insurance types, including Medicare, Medicaid, ACA Marketplace, and
Commercial. BASS Medical Group plans to transition its existing
value-based arrangements to this new partnership, and ApolloMed
will serve as BASS Medical Group's exclusive partner for all new
value-based arrangements.
In order to operationalize this partnership, ApolloMed plans to
deploy its value-based care platform and care enablement solutions
to BASS Medical Group's over 400 providers and almost 200 locations
across Northern California over
the following several quarters. In addition, ApolloMed plans to
partner with BASS Medical Group's extensive multi-specialty group
in order to enter several new markets and serve local communities
in Santa Clara and Alameda Counties, as well as expand its
presence in San Mateo,
San Francisco, and Stanislaus Counties.
Brandon Sim, President and CEO of
ApolloMed, stated, "We are thrilled to join forces with BASS
Medical Group given their outstanding reputation of providing
high-quality care to patients. In BASS Medical Group, we believe we
have found a like-minded partner in the way we empower providers,
focus on the provider-patient relationship, and deliver
high-quality, compassionate care, with a focus on aligning both
primary and specialty care in value-based models. We are excited to
partner with Inez and BASS Medical Group to improve patient care
across Northern California and
beyond, focusing on delivering higher quality healthcare with
greater access at lower costs."
Inez Wondeh, CEO, of BASS Medical Group, added, "Our partnership
with ApolloMed is not just about business alignment; it's about
bringing our values and goals towards a common purpose – providing
the highest quality of care for our patients. BASS Medical Group
set out to find a sophisticated partner with a long track record of
success in value-based care in order to take us to the next level,
and we believe we have found perfect alignment in ApolloMed and its
proprietary technology and operations platform. Both our
organizations are physician-founded and remain grounded in enabling
our providers to succeed while doing the right thing at the right
time. Both ApolloMed and BASS Medical Group are committed to
developing and implementing care models that ensure the best
outcomes for current and future patients in the Bay Area. By
joining forces, we are setting new standards in value-based care,
ensuring that our health care delivery is not only efficient but
rooted in the best interest of the communities we serve. We are
excited about the future and the positive changes this partnership
will bring to the Bay Area and beyond."
To further demonstrate its commitment to BASS Medical Group's
success and growth, ApolloMed has provided BASS Medical Group with
a $20 million senior secured
promissory note which is intended to be used, in partnership with
ApolloMed, to continue to grow their footprint and invest in
high-quality, high-value, and accessible primary and
multi-specialty care for communities across California.
About Apollo Medical Holdings, Inc.
ApolloMed is a leading provider-centric, technology-powered
healthcare company enabling providers to deliver accessible,
high-quality, and high-value care to all. 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, such as statements about the Company's ability to realize the
intended synergies of the strategic agreement. 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, including, without
limitation, the risk factors discussed in the Company's Annual
Report on Form 10-K/A for the year ended December 31, 2022, and any subsequent quarterly
reports on Form 10-Q. Any forward-looking statement made by the
Company in this release speaks only as of the date on which it is
made. The Company undertakes no obligation to publicly update any
forward-looking statement, whether as a result of new information,
future developments or otherwise, except as may be required by any
applicable securities laws.
FOR MORE INFORMATION, PLEASE CONTACT:
Investor Relations
Asher Dewhurst
investors@apollomed.net
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SOURCE Apollo Medical Holdings, Inc.