Business
Apollo Medical Holdings, Inc. Reports Third Quarter 2021 Results, Raises Full-Year 2021 Guidance
Company to Host Conference Call Today at 2 p.m. PT/5 p.m. ET ALHAMBRA, Calif., Nov. 4, 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., Nov. 4, 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, today announced its consolidated financial results for the third quarter and nine months ended September 30, 2021. \n\n \n \n \n \n \n \n\n \nFinancial Highlights for the Third Quarter and Nine Months Ended September 30, 2021:\nQ3 earnings per share - diluted (\"EPS - diluted\") of $0.74 per share, up 64% from $0.45 per share for the prior-year quarter Q3 total revenue of $227.1 million, up 26% from $180.1 million for the prior-year quarter Q3 net loss of $5.4 million, compared to net income of $25.4 million for the prior-year quarter (additional detail provided in the Q3 GAAP financial review below) Q3 net income attributable to ApolloMed of $34.3 million, up 105% from $16.7 million for the prior-year quarter Total revenue of $578.8 million for the nine months ended September 30, 2021, up 13% from $510.4 million for the prior-year period Net income of $68.6 million for the nine months ended September 30, 2021, compared to $109.4 million for the prior-year period Net income attributable to ApolloMed of $60.1 million for the nine months ended September 30, 2021, up 116% from $27.8 million for the prior-year period Cash and cash equivalents of $204.8 million at September 30, 2021Recent Operating Highlights: \nIn August 2021, ApolloMed 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, announced the closing of the strategic alliance and investment by ApolloMed in CAIPA MSO. ApolloMed purchased 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. In September 2021, ApolloMed completed a $3.0 million strategic equity investment in Clinigence Holdings, Inc. (OTC: CLNH), a technology-enabled, risk-bearing population health management company. In O...