Business
Apollo Medical Holdings, Inc. Reports First Quarter 2023 Results
Company to Host Conference Call on Monday, May 8, 2023, at 2:30 p.m. PT/5:30 p.m. ET ALHAMBRA, Calif., May 8, 2023 /PRNewswire/ -- Apollo Medical Holdings,
About this update from Astrana Health Inc.
[{"type":"text","content":"Company to Host Conference Call on Monday, May 8, 2023, at 2:30 p.m. PT/5:30 p.m. ET\nALHAMBRA, Calif., May 8, 2023 /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, today announced its consolidated financial results for the first quarter ended March 31, 2023.\n\n \n \n \n \n \n \n\n \nFinancial Highlights for First Quarter Ended March 31, 2023:\nTotal revenue of $337.2 million, up 28% from $263.3 million for the prior-year quarterNet income attributable to ApolloMed of $14.6 million, up 3% from $14.3 million for the prior-year quarterEarnings per share - diluted (\"EPS - diluted\") of $0.31, compared to $0.31 per share for the prior-year quarterAdjusted EBITDA of $29.8 million, compared to $34.4 million for the prior-year quarterBeginning with the first quarter ended March 31, 2023, the Company is reporting its financial results based on the following three business segments, in an effort to provide greater insight into the performance of its different lines of business:1. Care Enablement (integrated, end-to-end clinical and administrative platform comprised of technology, analytics, and management services, which enable payers and providers in the delivery of high-quality, value-based care); 2. Care Partners (partnering with high-performing providers in reducing total cost of care and participating in risk-bearing and performance-based arrangements via our consolidated risk-bearing entities, including independent physician associations (\"IPAs\"), health plan, and accountable care organization (\"ACO\")); and3. Care Delivery (clinical operations, including primary care, multi-specialty, and ancillary services).\nRecent Operating Highlights: \nOn May 1, 2023, the Company completed the previously announced acquisition of 100% of the fully diluted capitalization of For Your Benefit, Inc. (\"FYB\"). The Company has also received approval of the change in control of FYB's license as a full-service Restricted Knox-Keene licensed health plan from the California Department of Managed Health Care. With this approval, ApolloMed is now able to assume full financial responsibility, including b...