AMEH,, $0.11 Earnings PR..
Apollo Medical Holdings, Inc. Reports Record Revenue in Third Quarter of 2011
GLENDALE, Calif., Dec. 22, 2011 /PRNewswire via COMTEX/ -- Apollo Medical
Holdings, Inc. ("ApolloMed") (OTC-AMEH.OB), a leading provider of hospitalist and
multi-disciplinary care management services to the healthcare community, today
announced its third quarter and YTD operating results:
During the third quarter ended October 31, 2011, ApolloMed recorded record
revenues of $1,431,965 compared to $1,019,078 in revenue during the third quarter
ended October 31, 2010. For the nine month period ended October 31, 2011,
ApolloMed recorded revenue of $3,565,366, a 24.6% increase over the same period
in 2010.
ApolloMed recorded net income for the quarter ended October 31, 2011 of $58,204
compared to a net loss of $41,015 during the third quarter ended October 31,
2010.
Over the past nine months, the company has realized the following:
ApolloMed was selected to provide hospitalist services at two new hospitals:
Tulare Regional Medical Center and Glendale Memorial Hospital.
Announced its first health plan contract to provide comprehensive physician
services and inpatient care for members enrolled in Anthem's Medi-Cal program in
Los Angeles County.
Announced the acquisition of Primary Critical Care Management and Aligned
Healthcare.
"We are pleased with the results of our third quarter," stated Warren Hosseinion,
M.D., Chief Executive Officer of Apollo Medical Holdings, Inc. "We remain focused
on our objective of attaining profitable operations and on increasing shareholder
value. And we continue to make significant progress in expanding both our service
offering and geographic footprint."
About Apollo Medical Holdings, Inc.
ApolloMed is a leading provider of integrated medical management services that
improves the efficiency in inpatient care plus multi-disciplinary care management
services targeting inefficiencies in healthcare payer and provider networks. Our
integrated model combines hospitalist medicine, critical care medicine, 24-hour
physician call centers, case management and transition management that offers to
help healthcare organizations engage in performance payments for utilization
efficiency, quality of care objectives and shared accountability arrangements.
The company intends to capitalize on the growing market for hospital-based
physicians and care management services. There are 4900 acute care hospitals in
the U.S., with over 35 million annual admissions. Total U.S. spending on hospital
care is over $650 billion, and is expected to increase to $1.3 trillion by 2016.
There are tremendous inefficiencies in the delivery of inpatient care, a high
rate of hospital errors and high readmission rates. These are drivers for the
growth of hospital-based medicine and care management services. Apollo and its
affiliated medical groups have proven expertise in providing excellent and
efficient care to hospitalized patients.
SOURCE Apollo Medical Holdings, Inc.
Copyright (C) 2011 PR Newswire. All rights reserved
