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Thursday, Jun 1, 2023

Apollo Signs Rite Aid Pact

Apollo Medical Holdings Inc. announced on Tuesday that it is partnering with Rite Aid Corp. to help manage the health of patients with chronic conditions. The Glendale company, which provides doctors to hospitals, last week announced it planned to open four clinics in the Los Angeles area. Under the deal with Rite Aid, based in East Pennsboro Township, Pa., doctors at those clinics will work with Rite Aid pharmacists to manage patients with conditions such as congestive heart failure, high cholesterol and diabetes. Services available to patients participating in the Rite Aid Health Alliance program will include medication reviews, nutrition and weight information, disease education and exercise coaching. Financial details of the program were not disclosed. Last week, Apollo announced the launch of ApolloMed Care Clinics, which will include both primary care doctors and post-discharge practices. The company said it has purchased three clinics and will start a new one, but it did not disclose specific locations. Shares of Apollo fell Tuesday 5 cents, or nearly 8 percent, to 60 cents 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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