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Apollo Signs OC Hospital Deal, Trims Loss

Apollo Medical Holdings Inc. has announced that it will provide doctors and case management services for four hospitals in Orange County. The Glendale company, which manages doctor groups, will work with Integrated Healthcare Holdings Inc. to improve care and lower costs by sharing clinical data, managing high-risk cases and coordinating care among doctors. The program will be implemented at the 282-bed Western Medical Center in Santa Ana, 188-bed Western Medical Center in Anaheim, 178-bed Coastal Communities Hospital in Santa Ana and 114-bed Chapman Medical Center in Orange. In a separate announcement, Apollo reported a loss of $1.53 million (-4 cents a share) for its second fiscal quarter ended July 31, compared to $3.2 million (-10 cents) for the same quarter a year ago. Revenue rose 57 percent to $2.6 million. No analysts follow the company. Apollo credited new hospital contracts as the driver of revenue growth. “By consistently delivering best-in-class inpatient and outpatient services to residents of Los Angeles and Central California, ApolloMed hospitalists continue to achieve record revenue growth on a quarter-over-quarter basis,” Dr. Warren Hosseinion, chief executive, said in a statement. Shares of Apollo closed up 5 cents or 13.5 percent to 42 cents a share in over-the-counter trading.

Joel Russel
Joel Russel
Joel Russell joined the Los Angeles Business Journal in 2006 as a reporter. He transferred to sister publication San Fernando Valley Business Journal in 2012 as managing editor. Since he assumed the position of editor in 2015, the Business Journal has been recognized four times as the best small-circulation tabloid business publication in the country by the Alliance of Area Business Publishers. Previously, he worked as senior editor at Hispanic Business magazine and editor of Business Mexico.
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