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Tuesday, May 24, 2022

Briefs: Jet Edge, Apollo, Ryland

Private aircraft charter and management firm Jet Edge International announced on Thursday a partnership with Hollywood trade publication Variety to make its fleet available to attendees of the Cannes International Film Festival. The Van Nuys firm operates primarily large and super midsize Gulfstream aircraft out of locations in California, Florida, New York, and Hong Kong. The company serves the French Riviera, where Cannes is located. “With our fleet of large-cabin planes, seasoned pilots and in-flight team, and commitment to luxury, we deliver highly personalized experiences for those who fly Jet Edge,” said Chief Executive Bill Papariella, in a prepared statement. Jet Edge, owned by a partnership that includes Papariella and Denver private equity firm Bard Capital Group, also is a sponsor of a Cannes event being produced by Variety, owned by Penske Media Corp., in Los Angeles, and Relativity Media, in Beverly Hills. The event recognizes the 10th anniversary of Relativity, a movie and television production company. Apollo Medical Holdings Inc. reported on Thursday a narrower loss and higher revenue in its last fiscal year, crediting a string of recent acquisitions and expansions. The Glendale company, which operates doctor groups and clinics, reported a full-year loss of $4.6 million (-12 cents a share) for the year ended Jan. 31, compared to a loss of $32.5 million (-27 cents) for the previous year. Revenue rose 35 percent to $10.5 million. No analysts follow the company. Chief Exeutive Dr. Warren Hosseinion cited the founding of the company’s independent physician association Maverick Medical Group and accountable care organization ApolloMed ACO, as well as strategic collaborations with pharmacy chain RiteAid, drug maker Boehringer Ingelheim Pharmaceuticals and dialysis clinic firm Fresenius Medical Care for the improvement. “Our revenue growth reflects solid execution on our strategy to build a robust, integrated healthcare delivery system,” he said in a statement. “In the current year, we expect continued revenue growth through strategic acquisitions, partnerships and collaborations.” Shares did not trade hands and closed at 44 cents on the over-the-counter market. Ryland Group Inc. announced plans to build a luxury condo community in a Virginia suburb of Washington, D.C. The Westlake Village company plans an unspecified number of units in the East Gate development in Chantilly, west of the capital. Homes will start at $290,000 and range from 1,462 square feet to 2,196 square feet, with floor plans of three bedrooms. Ryland has operations in 17 states and the District of Columbia. Shares closed down 15 cents, or a fraction of a percent, to $37.70 on the New York Stock Exchange.

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