Apollo Medical Holdings Inc., a leading provider of hospitalist services to the healthcare community, has acquired Aligned Healthcare Group LLC, a provider of 24-hour physician call centers and specialized care management services to health plans, hospitals and medical groups.
In exchange for a 100-percent ownership interest in Aligned, Apollo will issue 1 million common shares to the shareholders of Aligned, as well as pay up to an additional 4.5 million common shares over the next three years, subject to a performance earn-out based on cash flow.
Raouf Khalil, MBA, CEO of Aligned, has 23 years of experience in the healthcare industry, will serve as president of Aligned, and will be added to the board of directors of Apollo; Jamie McReynolds, M.D. will serve as chief medical officer; and Bette Jane Reese, RN, MHA will become chief operating officer of the Aligned.
Warren Hosseinion, M.D., and CEO of Apollo, noted the solid experience and industry knowledge of the combined companies’ management and the impact it is expected to have on operations.
“The combination of ApolloMed and Aligned creates a powerful multidisciplinary care management organization that coordinates care across settings,” Hosseinion stated in the press release. “The new ApolloMed integrated model provides the infrastructure to help provider groups and health plans achieve objectives for utilization efficiency, quality of care and cost control within the shared accountability arrangements that are emerging within the new world of healthcare payment reform.”
Adrian Vazquez, M.D., president and chairman of Apollo said that the combination of the companies enables a wider service offering.
“By combining our two organizations, we will broaden our service offering to improve the quality of patient care in hospitals, post-acute care facilities and at home. It also enables us to achieve a balance between optimal length of stay and avoidance of readmissions,” Vasquez stated.
Khalil noted that the service offering will be a first in the marketplace.
“Integrating inpatient care and outpatient services as well as providing 24/7 physician access is a unique value and essential for desired clinical and financial outcomes. The Aligned portfolio of care and transition services is strengthened considerably with the addition of ApolloMed’s network of hospitalists. This combination of services does not exist in the market today and is in great demand as provider entities look for solutions to improve patient care and improve performance and accountability throughout their organizations,” Khalil stated.
For more information visit www.apollomed.net