Business
Apollo Medical Holdings, Inc. Announces Closing of CAIPA MSO Strategic Investment
ALHAMBRA, Calif. and NEW YORK, Aug. 31, 2021 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed," and together with its subsidiaries and affiliated
About this update from Astrana Health Inc.
[{"type":"text","content":"\n ALHAMBRA, Calif. and NEW YORK, Aug. 31, 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, and CAIPA MSO, LLC (\"CAIPA MSO\"), a New York-based management services organization affiliated with Chinese American IPA d/b/a Coalition of Asian-American IPA (\"CAIPA\"), a leading independent practice association serving the greater New York City area, today announced the closing of the strategic alliance and investment by ApolloMed in CAIPA MSO, effective August 27, 2021.\n\n \n \n \n \n \n \n\n \nWith the closing of this transaction, which was previously announced in a press release on January 26, 2021, ApolloMed has completed the purchase of 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. ApolloMed funded the transaction from cash on hand.\n\n CAIPA MSO provides management, consulting, administrative, and other support services to professional healthcare service providers, including to CAIPA. 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, 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.\n\n Kenneth Sim, M.D., Executive Chairman and Co-Chief Executive Officer of ApolloMed, stated, \"We are pleased to have consummated our strategic alliance with CAIPA MSO with the closing of this investment transaction, marking the beginning of what we anticipate will be a mutually productive and rewarding bi-coastal partnership that will benefit patients, physicians and the greater healthcare industry in the United States. This alliance marks ApolloMed's entry into the New York mark...