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The merger will bring care population health management of over 700,000 patients under the same roof.
Apollo Medical Holdings, Inc. (ApolloMed) and Network Medical Management, Inc. (NMM) today announced a merger that will bring care management of over 700,000 patients under the same roof. The move will create what ApolloMed calls “1 of the nation's largest population health management companies.”
The company’s umbrella already included its own management services organization (MSO). The addition of another, NMM, will expand its reach to include over 4,000 physicians through independent physician associations (IPAs), medical groups, managed care organizations, and accountable care organizations (ACOs). Its services include claims processing, contracting, credentialing, and data collection and analysis.
ApolloMed also delivers insights through a proprietary, cloud-based digital platform called Apollo Care Connect, which delivers evidence-based health management information for both physicians and patients. The company says that the technology can extract clinical and claims data from multiple electronic health records (EHR) systems.
Warren Hosseinion, MD, founder of ApolloMed, will now be co-CEO with Thomas Lam, MD, who founded NMM. In a statement, Lam said that the 2 firms “complement each other,” and that the merger “will allow us to advance our integrated care delivery model."
"Our technology-enabled platform allows us to provide a comprehensive suite of solutions for physicians, hospitals, managed care organizations and accountable care organizations,” Hosseinion said.
Both companies are California-based, covering physicians and patients in that state. The network will now include 2 IPAs (Allied Physicians of California and Maverick Medical Group), 2 ACOs (APA ACO and ApolloMed ACO), and a palliative care and home services offering.
"Both of our organizations have a history of providing high-quality, coordinated care that is cost effective and focused on outcomes," Apollo Medical Holdings executive chairman stated Kenneth Sim, MD, said in the statement. "Through this combination, we aim to become the industry leader in the transition of U.S. healthcare to value-based reimbursements."
In addition to the merger, the company announced that its stock is now listed on NASDAQ with the ticker handle “AMEH.” Trading began on December 8th, and the management of the new combined company was on hand to ring the closing bell at the NASDAQ MarketSite today at 4PM Eastern.