ApolloMed Announces That It Has Taken A Minority Equity Stake And Board Seat In Telehealth Company LifeMD
GLENDALE, Calif., Aug. 9, 2017 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed" or "the Company") (OTC: AMEH), an integrated population health management company delivering value-based care, today announced that it has taken a minority equity stake and board seat in Florida-based telehealth company LifeMD.
The Company will take a minority equity stake in LifeMD and Warren Hosseinion, M.D., Chief Executive Officer of ApolloMed, will take a seat on the LifeMD Board of Directors.
Based in Boynton Beach, Florida, and currently providing telehealth services in 43 states, LifeMD is a leading comprehensive telehealth company with a proprietary platform that delivers a fully-integrated telehealth solution which allows healthcare providers and patients to connect and manage medical conditions which can be treated and monitored remotely. Their HIPAA/FERPA-compliant technology incorporates a cloud-based multi-point video conferencing system with an embedded phone bridge. It uses a codec which is FDA-approved for transmitting medical images, sounds and data while maintaining cross-platform capabilities. Patients can connect with a provider using their Windows, iOS or Android devices. Providers can extend their telehealth reach with custom-designed LifeMD mobile cases, telehealth kiosks and mobile carts. LifeMD's software platform includes a HIPAA-compliant cloud-based EHR, practice management module including scheduling, electronic prescriptions, a patient portal that enables patients to view their medical records, and a bi-directional lab interface that allows providers to order and receive labs. LifeMD also has access to a comprehensive physician network that includes primary care providers, pediatricians and specialists.
LifeMD's systems can be configured to meet the needs of any medical facility, school or institution. The telehealth stations include two-way video conferencing, stethoscopes, pulse oximeters, thermometers, scales, glucose meters, multi-purpose scopes (otoscope/opthalmoscope), EKG, and blood pressure cuffs. LifeMD's diagnostic equipment and software allows a provider to virtually deliver up to a Level 5 consultation.
The Company anticipates aligning LifeMD's telehealth infrastructure with ApolloMed's extensive network of ACO, IPA, hospitalist group, hospice/palliative care and home health operations. LifeMD will leverage ApolloMed's comprehensive network of primary care and specialist providers to expand its physician network.
"We are committed to partnering with innovative healthcare technology companies that help us achieve the triple aim of improved quality of care, improved patient satisfaction and reduced healthcare expenditures," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings. "We were very impressed with LifeMD's medical-grade telehealth equipment, proprietary cloud-based software and support services, and see great potential in improving access to healthcare for our patients, deploying our Apollo Care Connect digital care plans across the care continuum and managing care in more cost-effective and convenient settings for patients."
"Our mission is to become one of the leading providers of telehealth services in the U.S.," stated Mark Vollaro, Chief Executive Officer of LifeMD. "We appreciate the confidence and support from ApolloMed, and believe this partnership will benefit both of our organizations. We are excited at the potential to integrate with ApolloMed's large ecosystem of providers and medical groups to increase the overall quality and convenience of care."
About Apollo Medical Holdings, Inc. (ApolloMed)
Founded in 2001 and headquartered in Glendale, California, ApolloMed is an integrated population health management company committed to providing exceptional multi-disciplinary care in the communities it serves. ApolloMed is addressing the healthcare needs of its patients by leveraging its integrated healthcare delivery platform comprised of: ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization), APA ACO (Next Generation ACO), Maverick Medical Group (Independent Physician Association), Apollo Care Connect and Apollo Palliative Services (Hospice/Palliative Care and Home Health Services). ApolloMed strives to improve medical outcomes with high-quality, cost-efficient care. For more information, please visit www.apollomed.net
About LifeMD, Inc.
Headquartered in Boynton Beach, Florida, LifeMD is a comprehensive telehealth company with a proprietary platform that delivers a fully-integrated telehealth solution to connect physicians, other medical providers, pharmacists and patients worldwide. The LifeMD technology incorporates a cloud-based multi-point video conferencing system with an embedded phone bridge. Patients can connect with a provider using their Windows, iOS or Android devices. Providers can extend their telehealth reach with custom-designed LifeMD mobile cases, telehealth kiosks and mobile carts. The service is available 24/7/365. For more information, please visit www.lifemd.com
Forward Looking Statements
This press release may contain forward-looking statements, including information about management's view of future expectations, plans and prospects for Apollo Medical Holdings, Inc. ("the Company"). In particular, when used in the preceding discussion, the words "predicts," "believes," "expects," "intends," "seeks," "estimates," "plans," "anticipates," and similar conditional expressions or future or conditional verbs such as "will," "may," "might," "should," "would" and "could" are intended to identify forward-looking statements. In addition, our representatives may from time to time make oral forward-looking statements. Any such statements, other than those of historical fact, about an action, event or development, are forward-looking statements. Such statements are based on the current expectations and certain assumptions of the Company's management. Such statements are, therefore, subject to a variety of known and unknown risks, uncertainties and other factors, many of which are beyond the control of the Company, which could cause the actual results, performance or achievements of the Company, its subsidiaries and concepts to be materially different than those that may be expressed or implied in such statements or anticipated on the basis of historical trends. Should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, the Company's actual results, performance or achievements may vary materially from those described in the relevant forward-looking statement as being expected, anticipated, intended, planned, believed, sought, estimated or projected. Unknown or unpredictable factors also could have material adverse effects on the Company's future results. The forward-looking statements included herein are made only as of the date hereof. The Company cannot guarantee future results, levels of activity, performance or achievements. Accordingly, you should not place undue reliance on these forward-looking statements. Finally, the Company undertakes no obligation to update or revise these forward-looking statements to reflect the impact of circumstances or events that arise after the date the forward-looking statement was made, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by the Company. You should not place undue reliance on any forward-looking statement and should consider the uncertainties and risks discussed under Item 1A. "Risk Factors" of the Company's Annual Report on Form 10-K for the year ended March 31, 2017 and in any of the Company's other subsequent Securities and Exchange Commission filings.
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SOURCE Apollo Medical Holdings, Inc.
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