Apollo Medical Holdings Unit to Acquire Controlling Stake in Access Primary Care Medical Group

 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 its affiliate AP-AMH 2 Medical Corporation has entered into a definitive agreement to acquire 80% of the fully diluted capitalization of Access Primary Care Medical Group ("APCMG"), a primary care physicians' group focused on providing high-quality care to senior patients.

According to the terms of the agreement, 50% of the purchase price will be paid in cash to APCMG within 10 business days of the closing of the transaction, and the remaining 50% will be paid upon APCMG achieving certain financial milestones in 2022. The Company anticipates closing this transaction in the third quarter of 2021 and will fund the transaction from cash on hand.

Primarily serving patients in the northern California cities of Daly City and San Francisco, APCMG is a risk-bearing organization that has successfully provided professional services to seniors under capitation arrangements with its contracted payer partners since 2016.

The deal will Bring ApolloMed's technology and operations platform to over 120 APCMG primary and specialty care providers serving approximately 1,000 Medicare Advantage members. The Company has also provided management services to APCMG since 2016.

https://finance.yahoo.com/news/apollo-medical-holdings-inc-announces-120500528.html