Maksim Labkouski
- Apollo Medical (NASDAQ:AMEH) on Monday said it and its affiliate had entered into an agreement to acquire All American Medical Group (AAMG), a physicians' group providing health care services in the San Francisco Bay area, and health plan For Your Benefit (FYB).
- Terms of the deal were not disclosed.
- Alhambra, Calif.-based AMEH runs a healthcare platform that connects insurers and Medicaid contractors to independent physician associations, providers and hospitals.
- "The investment and partnership with AAMG and FYB will bring over 15,000 Medicare Advantage, Commercial, and Medicaid patients in the City and County of San Francisco and San Mateo County under ApolloMed's umbrella of services," AMEH said in a statement.
- Apollo Medical (AMEH) said it would fund the transactions through a combination of cash on hand and stock.
- The company expects closing the transactions by the end of Q1 2023.
- AMEH stock closed +1.3% at $41.09 on Friday.