Apollo Medical (AMEH) announced that its management services organization, or MSO, Network Medical Management, or NMM, has entered into a Management Services Agreement, or MSA, with Golden Shore Medical Group to manage over 100,000 patients in California. Golden Shore Medical Group currently provides quality healthcare services to more than 100,000 patients and operates 17 clinics in four California counties: Sacramento County, San Bernardino County, Riverside County and Los Angeles County. Previously, the clinics were managed by Molina Medical Management, a subsidiary of Molina Healthcare, until being recently acquired by Dr. J. Mario Molina, formerly the CEO and Chairman of Molina Healthcare (MOH), a health insurance company with $19B in revenue listed on the New York Stock Exchange. Dr. Molina now serves as President and owner of Golden Shore. Pursuant to the terms of the MSA, NMM will be responsible for managing all health plan members assigned or delegated to Golden Shore, as well as all hospital risk pools. This effort is expected to be supported by the company's population health management platform, which includes administrative, clinical and technology capabilities.
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.