Business
Apollo Medical Holdings, Inc. and CAIPA MSO, LLC Announce Strategic Alliance in New York
ALHAMBRA, Calif. and NEW YORK, Jan. 26, 2021 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (NASDAQ: AMEH), a leading physician-centric,
About this update from Astrana Health Inc.
[{"type":"text","content":"ALHAMBRA, Calif. and NEW YORK, Jan. 26, 2021 /PRNewswire/ -- Apollo Medical Holdings, Inc. (\"ApolloMed\") (NASDAQ: AMEH), a leading physician-centric, technology-powered healthcare management company, and CAIPA MSO, LLC (\"CAIPA MSO\"), a management services organization based out of New York, today announced a strategic alliance and investment by ApolloMed in CAIPA MSO.\nCAIPA MSO provides management, consulting, administrative, and other support services to professional healthcare service providers, including to Chinese American IPA d/b/a Coalition of Asian-American IPA (\"CAIPA\"), a leading independent practice association serving the greater New York City area. With over 1,000 private practice providers covering over 70 specialties, CAIPA's provider network provides medical services and care to approximately 500,000 patients. CAIPA is consistently one of the top performing provider networks in the region in quality and value-based financial performance, and its wholly owned subsidiary CAIPA Care, LLC (\"CAIPA Care\"), is one of the only New York State Innovator Accountable Care Organizations, a value-based payment contracting designation by New York State that allows it to contract with payors at the most advanced payment levels to improve efficiencies and quality of care for patients.\nUnder the terms of the agreement, ApolloMed will purchase units of membership interest of CAIPA MSO, resulting in ApolloMed owning 30% of the post-closing total interests in CAIPA MSO on a fully diluted basis. \nCombining ApolloMed's proprietary population health management and healthcare delivery platform with CAIPA MSO's deep experience in New York, this bi-coastal strategic alliance will produce synergies that will benefit patients, physicians and the greater healthcare industry in the United States. ApolloMed and CAIPA MSO are strongly aligned in their mission, which is to ensure that patients receive high-quality care in a cost-efficient manner, especially traditionally underserved populations and minority groups. Together, ApolloMed and CAIPA MSO will help healthcare providers deliver quality care to over 1.6 million patients nationwide, while reducing the overall cost of healthcare.\nKenneth Sim, M.D., Executive Chairman and Co-Chief Executive Officer of ApolloMed, stated, \"Our strategic investment in CAIPA MSO marks ApolloMed's ent...