Apollo Medical Holdings Reports 236% Revenue Growth Year Over Year For The 1st Quarter Of Fiscal Year 2018

GLENDALE, Calif., Aug. 14, 2017 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed" or "the Company") (OTC: AMEH), an integrated population health management company, today announced its Fiscal Year 2018 1^st Quarter financial results for the three months ended June 30, 2017.

Financial Highlights for the Three Months Ended June 30, 2017 Compared to the Three Months Ended June 30, 2016 (unaudited):

• Net revenue of $41.6 million, an increase of 236% as compared to $12.4 million in the comparable period of 2016. The increase in revenue was primarily attributable to APA ACO's participation in the Next Generation Accountable Care Organization Model.
• Loss from operations of $3.7 million as compared to loss of $1.8 million in the comparable period of 2016. The Company's loss in the 1^st quarter of fiscal year 2018 was primarily driven by transactional expenses related to the pending merger with Network Medical Management, Inc., the use of locums tenens physicians in its hospitalist groups and APA ACO infrastructure-related costs. The Company has substantially reduced the use of locums physicians, and anticipates that they will be mostly phased out by Q2 FY 2018.
• As of June 30, 2017, the Company had total assets of $43.3 million, including cash and cash equivalents of $31.2 million.

"The foundation of our strength has been our ability to execute on the strategic plan we set in place several years ago," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings.  "This plan was based on our three core pillars of clinical expertise in managing patients with multiple chronic conditions, our experience in taking on financial risk for these patients and our technology infrastructure.  We are confident in our future and believe we are well-positioned for continued growth."

"This is our first quarter of significant financial impact from our investment in population health management infrastructure and value-based care processes for our patients," stated Gary Augusta, Executive Chairman of Apollo Medical Holdings.  "Our pending merger with Network Medical Management is expected to further expand our operating platform to become a national leader in providing high-quality, cost effective value-based care."

For more details on ApolloMed's 2018 Fiscal Year 1^st Quarter results, please refer to the Company's 10-Q filed with the U.S. Securities Exchange Commission and accessible at www.sec.gov.  

About Apollo Medical Holdings, Inc. (ApolloMed)

Founded in 2001 and headquartered in Glendale, California, ApolloMed is a leading physician-centric integrated population health management company working to provide coordinated, outcomes-based high-quality medical care for patients, particularly senior patients and patients with multiple chronic conditions, in a cost-effective manner.  Led by a management team with over a decade of experience,  ApolloMed is addressing the healthcare needs of its patients by leveraging its integrated health management and healthcare delivery platform that includes:  Apollo Medical Management (Management Services Organization), ApolloMed Hospitalists, APA ACO (Next Generation ACO), ApolloMed ACO (MSSP Accountable Care Organization), Maverick Medical Group (Independent Physician Association), Apollo Care Connect (Digital Population Health Management Platform) and ApolloMed Palliative Services (Hospice/Palliative Care and Home Health Care). ApolloMed strives to improve medical outcomes with high-quality, cost-efficient care.  For more information, please visit www.apollomed.net

Forward Looking Statements
This press release may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995, Section 27A of the Securities Act of 1933 and Section 21E of the Securities Exchange Act of 1934, based on numerous assumptions and subject to risks and uncertainties (some of which are beyond our control), including statements about management's view of future expectations, plans and prospects for Apollo Medical Holdings, Inc. ("the Company").  In particular, when used in such statements, 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, and some or all of such expectations and assumptions may not materialize or may vary significantly from actual results.  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. We further do not accept any responsibility for any projections or reports published by analysts, investors or other third parties.

View original content:http://www.prnewswire.com/news-releases/apollo-medical-holdings-reports-236-revenue-growth-year-over-year-for-the-1st-quarter-of-fiscal-year-2018-300504145.html

SOURCE Apollo Medical Holdings, Inc.