ApolloMed will be led by Warren Hosseinion, M.D. and Thomas Lam, M.D. as Co-Chief Executive Officers, Kenneth Sim, M.D. as Executive Chairman, Gary Augusta as President, Mihir Shah as Chief Financial Officer, and Hing Ang as Chief Operating Officer. Adrian Vazquez, M.D. and Albert Young, M.D. will be Co-Chief Medical Officers.
The Board of Directors will consist of nine directors: five appointees (including three independent directors) from NMM and four appointees (including two independent directors) from ApolloMed. The NMM appointees are Thomas Lam, M.D., Kenneth Sim, M.D., Li Yu, Mitchell Kitayama and Michael Eng. The ApolloMed appointees are Warren Hosseinion, M.D., Gary Augusta, Dave Schmidt and Mark Fawcett.
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"We are very pleased to announce the completion of our merger with Network Medical Management to create one of the leading population health management companies in the nation," stated Warren Hosseinion, M.D., Co-Chief Executive Officer of Apollo Medical Holdings. "Our technology-enabled platform allows us to provide a comprehensive suite of solutions for physicians, hospitals, managed care organizations and accountable care organizations. We see tremendous growth opportunities ahead."
"Our two organizations complement each other and we believe this will allow us to advance our integrated care delivery model," stated Thomas Lam, M.D., Co-Chief Executive Officer of Apollo Medical Holdings. "We believe the combination of the resources of our two organizations is unique, and we are really excited about the future."
"Both of our organizations have a history of providing high-quality, coordinated care that is cost effective and focused on outcomes," stated Kenneth Sim, M.D., Executive Chairman of Apollo Medical Holdings. "Through this combination, we aim to become the industry leader in the transition of U.S. healthcare to value-based reimbursements."
"We would like to thank our existing shareholders and welcome our new shareholders," stated Gary Augusta, President of Apollo Medical Holdings. "This merger, along with our listing on NASDAQ, are important milestones as we continue to build shareholder value."
Advisors
BofA Merrill Lynch acted as exclusive financial advisor to ApolloMed. McDermott Will & Emery served as legal counsel to ApolloMed. Vantage Point Advisors acted as exclusive financial advisor to Network Medical Management and the Law Offices of Tin Kin Lee served as NMM's legal counsel.
About Apollo Medical Holdings, Inc. (ApolloMed)
