Full Press Release Details
MEDICAL HOLDINGS ANNOUNCES THE APPOINTMENT OF
A. BATES, M.D. AND J. MARIO MOLINA, M.D.
CA and Glendale, CA - (PR Newswire) - June 26, 2018 - Apollo Medical Holdings, Inc. ("ApolloMed"
or "the Company") (NASDAQ: AMEH), an integrated population health management company, today announced that the size
of its Board of Directors has been increased from nine to eleven and that two new board members have been appointed. Joining the
Board are Ernest A. Bates, M.D. and J. Mario Molina, M.D.
Dr. Bates founded American Shared Hospital
Services ("ASHS") in 1977 and has served as its Chief Executive Officer and Chairman of the Board since 1983. ASHS,
based in San Francisco, California, is a healthcare company that is publicly-traded on the NYSE American and has a 25-year track
record of leasing state-of-the-art medical equipment to hospitals and medical centers in the United States.
A board-certified neurosurgeon, Dr. Bates
is an Emeritus of the Board of Trustees of Johns Hopkins University and served on the Board of Visitors of the Johns Hopkins Medical
Center and the Johns Hopkins Neurosurgery Advisory Board. He served on the Boards of the University of Rochester, FasterCures and
the Salzburg Global Seminar. He currently serves on the Board of Shared Imaging, LLC. From 1981 to 1987, he was a member of the
Board of Governors of the California Community Colleges, and he served on the California High Speed Rail Authority from 1997 to
2003. He was also appointed to the Magistrate Judge Merit Selection Panel. Dr. Bates is a member of the Board of Overseers at the
University of California, San Francisco School of Nursing.
Dr. Bates received his BA from Johns Hopkins
University and his M.D. degree from the University of Rochester School of Medicine. He completed an internship in surgery at the
Albert Einstein College of Medicine, Bronx Municipal Hospital Center and completed his neurosurgery residency at the University
of California, San Francisco Medical Center.
Dr. Molina served as the President, Chief
Executive Officer and Chairman of the Board of Molina Healthcare, Inc. from 1996 to 2017. Molina Healthcare, based in Long Beach,
California, is a Fortune 500 health insurance company that is publicly-traded on the NYSE and had $18.9 billion in revenue in 2017.
He was with Molina Healthcare for over 25 years and continued the legacy of his father, C. David Molina, M.D., an emergency room
physician who founded the company in 1980. He is currently the President and owner of Golden Shore Medical Group.
Dr. Molina was named one of the 100 most
influential people in healthcare in 2015 and 2016 by Modern Healthcare, and also as one of the 50 most influential physician executives
in 2016. In 2002, he received the Ernst & Young Greater Los Angeles Entrepreneur of the Year Award. He was also featured in
Time magazine as one of the 25 most influential Hispanics in America in 2015. Dr. Molina is a member of numerous organizations,
including a member of the Board of Trustees of the Johns Hopkins School of Medicine.
Dr. Molina earned his M.D. from the University
of Southern California School of Medicine and performed his internship and residency at Johns Hopkins Hospital. He received certification
from the American Board of Internal Medicine in internal medicine and endocrinology and metabolism. He also received a certificate
from the Anderson School of Business at UCLA in executive management.
"We are delighted to welcome Dr.
Bates and Dr. Molina to our Board of Directors," stated Warren Hosseinion, M.D., Co-Chief Executive Officer of Apollo Medical
Holdings. "Both individuals are nationally recognized executives, incredibly talented and bring a broad set of skills to
ApolloMed. We are fortunate to add such high caliber people to help us achieve our potential as the market leader in population
"Dr. Bates is an accomplished business
leader and an experienced board member in both the public and non-profit sectors," stated Kenneth Sim, M.D., Executive Chairman
of Apollo Medical Holdings. "We are confident that he will enhance the strategic perspectives of our Board as we continue
to execute on our growth strategy, drive profitability and enhance shareholder value."
"Dr. Molina is an inspirational leader
who has improved the healthcare of millions of patients," stated Thomas Lam, M.D., Co-Chief Executive Officer of Apollo Medical
Holdings. "His expertise in medical policy issues, medical cost management and the capital markets will bring great value
to our Company. He will be an outstanding addition to our Board."
"I am honored to join the Board of
this remarkable company," stated Ernest A. Bates, M.D. "I look forward to working with my fellow Board members and
management team to achieve their strategic goals."
"I am grateful for the opportunity
to join the ApolloMed Board, and look forward to using my expertise in government healthcare programs and experience in the capital
markets to help the Company grow," stated J. Mario Molina, M.D.
About Apollo Medical Holdings, Inc.
is a leading physician-centric integrated population health management company, which, together with its subsidiaries, including
a Next Generation Accountable Care Organization ("NGACO"), and its affiliated Independent Physician Associations (each,
an "IPA"), are working to provide coordinated, outcomes-based high-quality medical care for patients, particularly
senior patients and patients with multiple chronic conditions, in a cost-effective manner. Led by a management team with
over two decades of experience, ApolloMed is addressing the healthcare needs of its patients by leveraging its integrated
health management and healthcare delivery platform that includes: Network Medical Management (MSO), Apollo Medical Management
(MSO), ApolloMed Hospitalists, APA ACO (Next Generation ACO), Allied Physicians of California (IPA), Maverick
Medical Group (IPA) and Apollo Care Connect (Digital Population Health Management Platform). ApolloMed strives to improve medical
outcomes with high-quality, cost-efficient care. For more information, please visit www.apollomed.net.
Forward Looking Statements
press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995,
Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, such
as statements about the potential contributions of the Company's newly appointed executive officer and the Company's
ability to leverage its core strengths. Forward-looking statements reflect current views with respect to future events and
financial performance and therefore cannot be guaranteed. Such statements are based on the current expectations
and certain assumptions of the Company's management, and some or all of such expectations and assumptions may not materialize or
may vary significantly from actual results. Actual results may also vary materially from forward-looking statements due to
risks, uncertainties and other factors, known and unknown, including the risk factors
described from time to time in the Company's reports to the U.S. Securities and Exchange Commission (including without limitation
the "Risk Factors" discussed in the Company's Annual Report on Form 10-K filed on April
More Information, PLEASE CONTACT:
| Warren Hosseinion, M.D. | |
| Co-Chief Executive Officer | |
| Apollo Medical Holdings | |
| (818) 839-5200 | |
| warrenhoss@apollomed.net |