Business
Apollo Medical Holdings, Inc. Reports Fourth Quarter and Year-End 2020 Results, Highlighted by Record Revenue and Net Income Growth for 2020 and Annual Guidance Beat
Company to Host Conference Call Today at 2 p.m. PT/5 p.m. ET ALHAMBRA, Calif., March 10, 2021 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed," and
About this update from Astrana Health Inc.
[{"type":"text","content":"Company to Host Conference Call Today at 2 p.m. PT/5 p.m. ET\n\n\nALHAMBRA, Calif., March 10, 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 management company, today announced its consolidated financial results for the fourth quarter and year ended December 31, 2020. \n\n \n \n \n \n \n \n\n \nFinancial Highlights for the Fourth Quarter and Year Ended December 31, 2020:\nCompany exceeded all previously disclosed guidance metrics for full-year 2020 (revenue, net income, EBITDA, and adjusted EBITDA) Total revenue of $687.2 million for the year ended December 31, 2020, up 23% from $560.6 million for the prior year Net income of $122.3 million for the year ended December 31, 2020, from $17.7 million for the prior year Net income attributable to ApolloMed increased to $37.9 million for the year ended December 31, 2020, up 168% from $14.1 million for the prior year Q4 total revenue of $176.8 million, compared to $178.8 million for the prior-year quarter Q4 net income of $12.9 million, compared to net loss of $1.3 million for the prior-year quarter Q4 net income attributable to ApolloMed of $10.1 million, up 51% from $6.7 million for the prior-year quarter Cash and cash equivalents of $193.5 million at December 31, 2020Recent Operating Highlights: \nIn January 2021, ApolloMed announced a strategic alliance and investment in New York-based CAIPA MSO, LLC (\"CAIPA MSO\") whereby ApolloMed will own 30% of the post-closing total interests in CAIPA MSO on a fully diluted basis. With this partnership, ApolloMed will provide its proprietary technologies to CAIPA for the benefit of its physicians. The strategic alliance will provide ApolloMed with a foothold in the state of New York with the potential for expanding the alliance in the future. In February 2021, ApolloMed appointed Brandon Sim as its Chief Operating Officer, pursuant to which he assumed responsibility for the Company's overall strategy, end-to-end service delivery and all non-clinical operations. Mr. Sim will also continue in his role of Chief Technology Officer, leading all technology aspects of ApolloMed's business, including software engineering, information technology, data management and electronic data ...