Apollo Medical announces NMM enters MSA with Accountable IPA
Apollo Medical Holdings announced that its management services organization, or MSO, Network Medical Management, NMM, has entered into a ten year Management Services Agreement, or MSA, with Accountable Health Care IPA. Additionally, a variable interest entity, or VIE, of ApolloMed has extended a line of credit of up to $18M to Accountable IPA to fund working capital needs. In connection with the MSA, a VIE of ApolloMed has extended a line of credit of up to $18M to Accountable IPA to fund the IPA's working capital needs. The ApolloMed VIE shall have the right, but not the obligation, to convert a portion or all of the principal amount into shares of Accountable IPA's capital stock. Concurrent with the initial funding, the Accountable IPA board has been reconstituted to be comprised of two directors, including one director from NMM.