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Astrana Health, Inc. (NASDAQ: AMEH), formerly known as Apollo Medical Holdings, Inc., is a leading physician-centric, technology-powered healthcare management company. Based in Alhambra, California, the company leverages proprietary population health management and healthcare delivery platforms to operate an integrated, value-based healthcare model. Astrana Health's mission is to empower medical providers in its network to deliver high-quality, cost-effective care.
The company's extensive network includes primary care physicians, specialists, and hospitalists, catering to patients covered by various insurance plans including Medicare, Medicaid, and private insurance. Astrana Health's services encompass care coordination for patients, families, primary care physicians, specialists, acute care hospitals, and physician groups.
Key Highlights and Achievements:
- Strong Financial Performance: In 2023, Astrana Health reported a significant increase in revenue and net income. For example, total revenue for the second quarter of 2023 was $348.2 million, up 29% from the previous year.
- Strategic Acquisitions and Partnerships: The company has expanded its reach through strategic acquisitions and partnerships. Recent deals include acquiring assets from Texas Independent Providers, forming partnerships with primary care groups in California, and collaborating with IntraCare.
- Environmental, Social, and Governance (ESG) Initiatives: Astrana Health released its inaugural ESG At-a-Glance Report in 2023, highlighting achievements in health equity, community engagement, and environmental responsibility.
- Technological Advancements: The company continues to invest in technology to enhance its healthcare delivery platform, enabling providers to participate in value-based care arrangements and improve patient outcomes.
Ongoing Projects:
- Value-Based Care: Astrana Health remains committed to expanding its value-based care model, focusing on improving patient outcomes and reducing healthcare costs.
- Expansion of Services: The company plans to broaden its healthcare services across multiple states, including California, Nevada, Texas, and beyond.
- Provider Empowerment: Astrana Health continues to focus on empowering its network of providers through training and technology, ensuring they can deliver the best possible care.
For more information, visit www.apollomed.net.
Apollo Medical Holdings, Inc. (AMEH) reported Q2 2021 earnings, highlighting a 47% increase in EPS to $0.28 and a 6% rise in total revenue to $175.6 million, compared to Q2 2020. However, net income dropped to $59.5 million from $81.0 million in the prior-year quarter. For the first half of 2021, total revenue reached $351.7 million, also up 6%, while net income fell to $74.0 million from $84.0 million. The company raised its full-year guidance for total revenue and net income, citing positive growth trends and successful acquisitions, including deals for Sun Clinical Laboratories and Access Primary Care Medical Group.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) will release its financial results for the second quarter and six months ending June 30, 2021, on August 5, 2021, after market close. The company will host a conference call at 2 p.m. PT to discuss the results. ApolloMed focuses on providing a technology-driven, physician-centric healthcare platform aimed at enhancing value-based care. The slide presentation for the call will be available on their website.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) has announced its affiliate, AP-AMH 2 Medical Corporation, will acquire 80% of the fully diluted capitalization of Access Primary Care Medical Group (APCMG), focusing on senior patient care. The transaction's purchase price is split, with half paid in cash and the remainder contingent on financial milestones in 2022. This acquisition aims to enhance ApolloMed's operational platform and expand its reach to over 1,000 Medicare Advantage members in Northern California. The deal is expected to close in Q3 2021.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) announced a partnership between its affiliate Allied Pacific of California IPA and Shriners Children's Southern California to open a new pediatric satellite clinic in Downtown Los Angeles on July 9, 2021. This clinic aims to enhance access to specialized pediatric care, including orthopedic and plastic reconstructive surgeries, for underserved communities. The collaboration signifies a return of Shriners Children's services to the area, which had been absent since 2017.
Apollo Medical Holdings completed the refinancing of a $175.8 million term loan and $60.0 million revolving credit facility into a new $400.0 million revolving credit facility, announced on June 16, 2021. The refinancing reduces the annual interest rate spread by 50 basis points on the initial $180.0 million drawn down. Available cash of $58.7 million will cover existing debts. The new facility will support future acquisitions and provide working capital. This strategic move is expected to enhance financial flexibility and accelerate business growth.
Apollo Medical Holdings, Inc. has appointed Jeremy R. Jackson, M.D. as the new Chief Quality Officer, effective June 14, 2021. Dr. Jackson, who previously served as Chief of Staff, will work closely with providers to enhance the quality of care within the company. With over a decade of experience in healthcare management and surgery, he aims to leverage ApolloMed's technology platform to support providers in delivering value-based care. Executive Chairman Kenneth Sim emphasized Dr. Jackson's contributions and commitment to improving patient outcomes.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) announced its addition to the S&P SmallCap 600 index effective June 15, 2021. This inclusion reflects the company's commitment to growth and financial performance in value-based healthcare management. Executive Chairman Kenneth Sim emphasized that this milestone will enhance visibility in the investment community and potentially increase shareholder value. ApolloMed operates a technology-driven healthcare platform focused on empowering providers to deliver quality care efficiently.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) has reached a $4 million agreement to acquire controlling interests in Sun Clinical Laboratories. This acquisition aims to enhance ApolloMed's integrated value-based care delivery platform, improving operational efficiencies and expanding services. Sun Labs, with 19 locations in California, will be fully integrated, enabling ApolloMed to leverage its network for expansion. The deal is expected to close within three months, and ApolloMed plans to consolidate Sun Labs' financials into its results.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) announced that
Brandon Sim, COO and CTO, and Eric Chin, CFO, will present at upcoming virtual investor events:
- RBC Global Healthcare Conference: May 18, 2021, at 12:05 p.m. PT.
- UBS Global Healthcare Conference: May 25, 2021, at 10 a.m. PT.
Management will also hold one-on-one virtual meetings during these events. Post-event recordings will be available on ApolloMed's investor website. ApolloMed focuses on population health management through value-based care delivery.
Apollo Medical Holdings, Inc. (NASDAQ: AMEH) reported strong financial results for Q1 2021, with a 173% increase in diluted EPS to $0.30 compared to $0.11 last year. Total revenue rose 7% to $176.1 million from $165.1 million, while net income surged to $14.5 million from $3.0 million. The company has $205.9 million in cash and equivalents as of March 31, 2021. ApolloMed announced a strategic partnership with CAIPA MSO, expanding its presence in New York. The company maintains guidance for Q2 and full-year 2021 revenues between $690 million and $710 million, with net income projections of $50 million to $60 million.
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