Business
Apollo Medical Holdings, Inc. Reports Fourth Quarter and Year Ended December 31, 2019 Results
ALHAMBRA, Calif., March 12, 2020 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed" or the "Company") (NASDAQ: AMEH), an integrated population health
About this update from Astrana Health Inc.
[{"type":"text","content":"ALHAMBRA, Calif., March 12, 2020 /PRNewswire/ -- Apollo Medical Holdings, Inc. (\"ApolloMed\" or the \"Company\") (NASDAQ: AMEH), an integrated population health management company, announced today its consolidated financial results for the fourth quarter and year ended December 31, 2019.\n \"We closed out 2019 on a high note and are very pleased with our fourth quarter financial performance, which demonstrated meaningful improvements in revenue, net income and adjusted EBITDA. The year was marked by significant accomplishments including our acquisition of Alpha Care Medical Group and Accountable Health Care IPA, the closing of the series of transactions with Allied Physicians of California IPA, and our achievement of now managing over one million lives.\"\n \"Over the course of a successful 2019, we worked to build an organization that is both scalable and profitable. I believe we are well positioned to deliver sustainable growth as we continue to support the healthcare industry's shift to value-based care,\" stated Kenneth Sim, M.D., Executive Chairman and Co-Chief Executive Officer of ApolloMed.\n Financial Highlights for the Fourth Quarter Ended December 31, 2019:\n \n\tTotal revenue of $178.8 million for the quarter ended December 31, 2019, an increase of 68% as compared to $106.6 million for the quarter ended December 31, 2018, primarily due to the acquisitions of Alpha Care Medical Group and Accountable Health Care IPA, which were acquired on May 31, 2019 and August 30, 2019, respectively.\n\tCapitation revenue, net, of $148.6 million for the quarter ended December 31, 2019, representing 83% of our total revenue, an increase of 92% compared to $77.5 million for the quarter ended December 31, 2018.\n\tRisk pool settlements and incentives revenue of $18.5 million for the quarter ended December 31, 2019, an increase of 62%, as compared to $11.4 million for the quarter ended September 30, 2019, primarily due to the timing of incentives revenue paid and recognized.\n\tNet income attributable to Apollo Medical Holdings, Inc. of $6.7 million for the quarter ended December 31, 2019, compared to net loss attributable to Apollo Medical Holdings, Inc. of $3.1 million for the quarter ended December 31, 2018. The increase from the prior year was primarily due to preferred dividends received from Allied Physicians of California IPA (\"...