Business
Apollo Medical Holdings, Inc. Announces Purchase of Controlling Interests in Sun Clinical Laboratories
ALHAMBRA, Calif., June 2, 2021 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed," and together with its subsidiaries and affiliated entities, the
About this update from Astrana Health Inc.
[{"type":"text","content":"\n \n ALHAMBRA, Calif., June 2, 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 value-based care, today announced that the Company has entered into a definitive agreement with Sun Clinical Laboratories (\"Sun Labs\"), under which ApolloMed will purchase controlling interests in Sun Labs for $4.0 million. \n\n \n \n \n \n \n \n\n \nSun Labs is a CLIA-certified full-service lab that operates 19 locations across the San Gabriel Valley in southern California. The combination will allow ApolloMed to fully incorporate Sun Labs, an existing partner, into its integrated value-based care delivery platform, leading to greater operational efficiencies for ApolloMed and more integrated care for ApolloMed's members. ApolloMed will have the opportunity to leverage its extensive network and business development expertise to guide the expansion of Sun Labs into other geographic regions. Upon closing, ApolloMed expects to consolidate Sun Labs' financials into its GAAP results.\nKenneth Sim, M.D., Executive Chairman and Co-Chief Executive Officer of ApolloMed, stated, \"We are pleased to have entered into this agreement with Sun Labs, whereby ApolloMed will serve as the exclusive administrator of all daily business functions of Sun Labs. We look forward to further integrating Sun Labs into our comprehensive care delivery platform, providing a seamless, best-in-class experience for our affiliated physicians and members. As ApolloMed expands its geographic footprint, we see Sun Labs as a core partner in this expansion, growing the business and bringing high-quality lab services to more patients across the nation. We are also incredibly excited about Sun Labs' cutting-edge work in genomic testing, which will add greatly to ApolloMed's commitment to remaining at the forefront of medicine by supporting more personalized cancer care among the communities in which it operates.\" \nFrances Sun, Chief Executive Officer of Sun Labs, stated, \"We believe we have found the ideal partner in ApolloMed, which has significant expertise in alleviating the administrative burden of operating various healthcare practices and businesses through its MSOs. For over 40 years, we have...