Apollo Hikes On Intracare Connection
Date
7/31/2023 10:11:20 AM
(MENAFN- Baystreet.ca)
Apollo Hikes on IntraCare Connection Apollo Medical Holdings, Inc. (NASDAQ: AMEH), a leading physician-centric, technology-powered healthcare company focused on enabling providers in the successful delivery of value-based care, today announced an agreement to partner with IntraCare, an operator of a value-based primary care provider Network and primary care clinics located predominantly in Texas with a growing presence in Oklahoma.
Headquartered in the Dallas-Fort Worth metropolitan area of Texas, IntraCare is aligned with over 425 providers managing the care of over 40,000 members. Like ApolloMed, IntraCare is on a mission to build a thriving healthcare ecosystem that promotes successful, independent physicians, strengthens the patient-physician relationship, and improves patient satisfaction and healthcare outcomes through quality, compassionate coordinated care.
ApolloMed's partnership with IntraCare is poised to accelerate access to high-quality, value-based care for seniors in three areas. First, ApolloMed's ACO will partner with IntraCare's primary care providers as part of the ACO REACH program, an attribution-based risk-bearing model designed to advance health equity and bring the benefits of accountable care to Medicare beneficiaries in underserved communities.
In addition, ApolloMed will deploy its value-based care platform as the exclusive care enablement partner for IntraCare providers participating in the ACO REACH program. Finally, to further IntraCare's mission and growth, ApolloMed will lend IntraCare a $25-million senior secured convertible promissory note maturing in 2028. Guggenheim Securities, LLC acted as financial advisor to IntraCare in connection with the transactions.
AMEH shares grabbed 64 cents, or 1.8%, to $35.40.
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