Apollo Medical Holdings, Inc. Announces Affiliate's Entry into Agreement to Acquire Jade Health Care Medical Group

ALHAMBRA, Calif., Dec. 21, 2021 /PRNewswire/ -- 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, announced today that its affiliate, AP-AMH 2 Medical Corporation, has entered into a definitive agreement to acquire 100% of the fully diluted capitalization of Jade Health Care Medical Group ("Jade Health"), a primary and specialty care physicians' group focused on providing high-quality care to its local communities. The Company anticipates closing this transaction by the end of the second quarter of 2022 and will fund the transaction from cash on hand.
Apollo Medical Holdings, Inc. Announces Affiliate's Entry into Agreement to Acquire Jade Health Care Medical Group
Primarily serving patients in the San Francisco Bay Area in Northern California, Jade Health is a risk-bearing organization that has successfully provided culturally competent, linguistically appropriate, professional services to members in its local communities since 2016. Jade Health is committed to delivering high-quality, affordable healthcare to Medicaid, Medicare, and Commercial members through its over 350 primary and specialty care providers.TheA transaction will add approximately 13,000 members, primarily located in the City and County of San Francisco and San Mateo County, to ApolloMed's membership under capitated arrangements. In addition, Jade Health and its providers will onboard onto ApolloMed's technology and operations MSO platform by the close of the transaction.Brandon Sim, Co-Chief Executive Officer of ApolloMed, stated, "Following the acquisition of Access Primary Care Medical Group earlier this year, we are very excited to be expanding our presence in Northern California with the addition of Jade Health Care Medical Group to the ApolloMed family. We look forward to working closely with the Jade Health leadership team to further improve patient experiences and clinical outcomes, drive growth in their existing lines of business, particularly Medicare Advantage, and maintain their commitment to affordable, high-quality, culturally sensitive care for their patients and communities."
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