Apollo Medical Holdings, Inc. Reports First Quarter 2021 Results Company to Host Conference Call Today at 2 p.m. PT/5 p.m.

Apollo Medical Holdings, Inc. Reports First

Quarter 2021 Results

Company to Host Conference Call Today at 2 p.m.

ALHAMBRA, Calif., May 5, 2021 /PRNewswire/ --

Apollo Medical Holdings, Inc. ("ApolloMed," and together with its subsidiaries and affiliated entities, the "Company")

(NASDAQ: AMEH), a leading physician-centric, technology-powered healthcare management company, today announced its consolidated financial

results for the first quarter ended March 31, 2021.

Financial Highlights for the First Quarter

Ended March 31, 2021:

Recent Operating Highlights:

ApolloMed continues to maintain the following

guidance for total revenue, net income, net income attributable to ApolloMed, EBITDA, and Adjusted EBITDA, based on the Company's

existing business, current view of existing market conditions and assumptions for the year ending December 31, 2021. ApolloMed is

also providing the following guidance for the second quarter ending June 30, 2021.

See "Guidance Reconciliation of Net Income

to EBITDA and Adjusted EBITDA" and "Use of Non-GAAP Financial Measures" below for additional information. There can

be no assurance that actual amounts will not be materially higher or lower than these expectations. See "Forward-Looking Statements"

below for additional information.

Management Commentary:

Kenneth Sim, M.D., Executive Chairman and Co-Chief

Executive Officer of ApolloMed, stated, "We were pleased to begin 2021 with strong results, achieving 7% growth on the top line

and more than tripling net income attributable to ApolloMed to $13.2 million in the first quarter. This was primarily a result of organic

membership growth in our existing IPAs, which drove the increased capitation revenue. Additionally, our risk pool settlements and incentives

revenue increased during the period due to decreased utilization of our hospital partners. The bottom line also benefited from $2.4 million

in decreased general and administrative expenses related to third-party consulting and professional costs, which is a direct result of

our technology platform. We anticipate the trend of reduced utilization of elective care services will continue to normalize as a larger

proportion of the population continues to get vaccinated against COVID-19 and the country maintains its steady path toward recovery."

Dr. Sim continued, "We continue to work

closely with the team at CAIPA MSO, in which we announced a strategic investment and alliance in January 2021. This partnership marks

ApolloMed's entry into the New York market, and we anticipate closing this transaction by the end of the 2021 second quarter. We

continue to evaluate opportunities where we can integrate like-minded physicians and physician groups into our proven value-based care

model, and as we remain confident in our ability to meet our target of 2 million managed lives by the end of 2021, we are reiterating

our previously provided guidance targets for the year. We are also providing guidance for the upcoming quarter ending June 30, 2021, to

provide greater visibility into our forecasts given the fluctuations we are experiencing in light of post-pandemic trends. We are committed

to maintaining transparency and an ongoing dialogue with the investment community as we continue executing our growth initiatives in the

months and years to come."

GAAP Financial Highlights for the First Quarter Ended March 31,

Non-GAAP Measures for the First Quarter Ended March 31, 2021:

Balance Sheet Highlights:

See "Reconciliation of Net Income to EBITDA

and Adjusted EBITDA" and "Use of Non-GAAP Financial Measures" below for additional information. There can be no assurance

that actual amounts will not be materially higher or lower than these expectations. See "Forward-Looking Statements" below

for additional information.

For more details on ApolloMed's financial

results for the quarter ended March 31, 2021, please refer to ApolloMed's Quarterly Report on Form 10-Q to be filed with the

U.S. Securities Exchange Commission ("SEC"), which is accessible at www.sec.gov.

Conference Call and Webcast Information:

ApolloMed will host a conference call at 2 p.m.

PT/5 p.m. ET today (Wednesday, May 5, 2021), during which management will discuss the results of the first quarter ended March 31, 2021.

To participate in the conference call, please use the following dial-in numbers about 5 minutes prior to the scheduled conference call

The conference call can also be accessed at: https://78449.themediaframe.com/dataconf/productusers/ameh/mediaframe/44832/indexl.html.

An accompanying slide presentation will be made

available 30 minutes prior to the start of the conference call on the "Events & Presentations" page of the Company's

website (https://apollomed.net/eventspresentation) and will be filed as an exhibit to ApolloMed's current report on Form

8-K to be filed with the SEC, accessible at www.sec.gov.

Those who are unable to attend the live conference

call may access the recording at the above webcast link, which will be made available shortly after the conclusion of the call.

Note About Consolidated Entities

The Company consolidates entities in which it

has a controlling financial interest. The Company consolidates subsidiaries in which it holds, directly or indirectly, more than 50% of

the voting rights, and variable interest entities ("VIEs") in which the Company is the primary beneficiary. Noncontrolling

interests represent third party equity ownership interests in the Company's consolidated entities (including certain VIEs). The amount

of net income attributable to noncontrolling interests is disclosed in the Company's consolidated statements of income.

Note About Stockholders' Equity,

Certain Treasury Stock and Earnings Per Share

As of the date of this press release, 144,466

holdback shares have not been issued to certain former shareholders of the Company's subsidiary, Network Medical Management, Inc.

("NMM"), who were NMM shareholders at the time of closing of the merger, as they have yet to submit properly completed letters

of transmittal to ApolloMed in order to receive their pro rata portion of ApolloMed's common stock and warrants as contemplated

under that certain Agreement and Plan of Merger, dated December 21, 2016, among ApolloMed, NMM, Apollo Acquisition Corp. ("Merger

Subsidiary") and Kenneth Sim, M.D., as amended, pursuant to which Merger Subsidiary merged with and into NMM, with NMM as the surviving

corporation. Pending such receipt, such former NMM shareholders have the right to receive, without interest, their pro rata share of dividends

or distributions with a record date after the effectiveness of the merger. The Company's consolidated financial statements have

treated such shares of common stock as outstanding, given the receipt of the letter of transmittal is considered perfunctory and ApolloMed

is legally obligated to issue these shares in connection with the merger.

Shares of ApolloMed's common stock owned

by APC, a VIE of the Company, are legally issued and outstanding but excluded from shares of common stock outstanding in the Company's

consolidated financial statements, as such shares are treated as treasury shares for accounting purposes. Such shares, therefore, are

not included in the number of shares of common stock outstanding used to calculate the Company's earnings per share.

About Apollo Medical Holdings, Inc.

ApolloMed is a leading physician-centric,

technology-powered healthcare management company. Leveraging its proprietary population health management and healthcare delivery

platform, ApolloMed operates an integrated, value-based healthcare model, which aims to empower the providers in its network to

deliver the highest quality of care to its patients in a cost-effective manner.

Headquartered in Alhambra, California, ApolloMed's

subsidiaries include management services organizations ("MSOs"), affiliated independent practice associations ("IPAs")

and a Next Generation Accountable Care Organization ("NGACO"). NMM and Apollo Medical Management, Inc. are the administrative

and managerial services companies for the affiliated physician owned professional corporations that contract with independent physicians

to deliver medical services in-office and virtually under the Allied Pacific of California IPA, Alpha Care Medical Group, Inc. and Accountable

Health Care IPA brands. These affiliates are supported by ApolloMed Hospitalists, a Medical Corporation. Our NGACO operates under the

APA ACO, Inc. brand and participates in the Centers for Medicare & Medicaid Services program that allows provider groups to assume

higher levels of financial risk and potentially achieve a higher reward from participation in the program's attribution-based risk

sharing model. For more information, please visit www.apollomed.net.

Forward-Looking Statements

This 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 Company's guidance

for the second quarter ending June 30, 2021 and the year ending December 31, 2021, continued growth, acquisition strategy, ability to