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Saturday, Feb 4, 2023

Briefs: Health Net, Apollo Medical

Health Net Inc. has appointed former Congressman George Miller to its board. The Woodland Hills insurance company also announced the retirement of Patrick Foley, a director and member of Health Net’s compensation and governance committees. Miller, 69, served in Congress from 1975 to 2005 representing a district in Northern California. He served as chairman of the House Committee on Education and the Work Force, which helped pass the Affordable Care Act, commonly called ObamaCare. “George is known and respected for his intimate understanding and leadership across a full range of policy areas, including health care and the ACA,” Jay Gellert, Health Net’s chief executive, said in a statement. The company announced Miller’s appointment on Tuesday, effective March 12. Shares closed Wednesday up $1.45 or 2.5 percent to $60.35 on the New York Stock Exchange. Apollo Medical Holdings Inc. has expanded its hospitalist and post-acute care services to the San Francisco Bay Area. The Glendale company, which manages doctors groups and integrated health delivery systems, already has a presence in the Bay Area with its accountable care organization, which combines hospitals, doctors and pharmacies to provide care for a large population. The hospitalist operation will run through one of the company’s affiliated doctors groups. “Our strategy is to expand not only in California but also in select markets throughout the U.S.,” Dr. Warren Hosseinion, chief executive, said in a statement. “We will continue to strive to achieve our goals of growth and to partner with new hospitals, health plans, nursing homes and physicians.” The new hospitalist practice will generate about 42,000 annual patient visits. The expansion was announced earlier this week. Shares closed Wednesday unchanged at 52 cents on the over-the-counter market.

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