Apollo Medical Holdings, Inc. Reports Fourth Quarter and Year-End 2020 Results, Highlighted by Record Revenue and Net Income Growth for 2020 and Annual Guidance Beat Company to Host Conference Call Today at 2 p.m. PT/5 p

Apollo Medical Holdings, Inc. Reports

Fourth Quarter and Year-End 2020 Results, Highlighted by Record Revenue and Net Income Growth for 2020 and Annual Guidance Beat

Company to Host Conference Call Today

at 2 p.m. PT/5 p.m. ET

ALHAMBRA, Calif., March 10, 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 fourth quarter and year ended December 31, 2020.

Financial Highlights for the Fourth Quarter and Year Ended

Recent Operating Highlights:

ApolloMed is providing the following guidance

for total revenue, net income, 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.

2020 net income and EBITDA include pre-tax gain on sale of a small health plan of approximately $99.6 million.

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, "As the pandemic continues to have an impact on much of the world, our team

at ApolloMed, from the front line workers to the support staff behind the scenes, remains committed to providing our member population

with the quality care they have come to expect from our organization, and we are pleased to be doing our part in expediting the

COVID-19 vaccination process in the geographic areas we serve. Despite the unprecedented circumstances of 2020, ApolloMed achieved

record top and bottom line growth as a result of our NGACO's phenomenal performance in 2019 and our acquisitions of Alpha

Care Medical Group and Accountable Health Care IPA, a Professional Medical Corporation, in 2019. We also benefited from a trend

of decreased utilization as the pandemic encouraged members to seek only essential or urgent care and from increased operational

efficiencies as a direct result of our proprietary technologies."

Dr. Sim continued, "Subsequent to

year-end, we announced a strategic investment and alliance with CAIPA MSO in New York that we are very excited about. This partnership

represents ApolloMed's entry into the New York market and the first phase of our nationwide expansion plan. Our leadership

team has been focused on profitably operating a value-based care model in the state of California for more than two decades. We

believe we are well positioned with our technology-powered platform to execute on the growth opportunities we see within the space

as we seek to replicate the success of our business model across the country with a goal of nearly doubling the number of managed

lives by the end of 2021. In that regard, we are pleased to provide guidance for 2021 but want to note that these estimates do

not account for any potential acquisitions or other major business transactions we may complete over the course of this year. As

new developments that may impact guidance materialize, we are committed to remaining open and transparent and will re-evaluate

and communicate any changes in guidance as appropriate."

GAAP Financial Highlights for the Year Ended December 31,

GAAP Financial Highlights for the Fourth Quarter Ended December

Non-GAAP Measures for the Year Ended

Non-GAAP Measures for the Fourth Quarter Ended December 31,

Balance Sheet Highlights:

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.

more details on ApolloMed's financial results for the quarter and year ended December 31, 2020, please refer to ApolloMed's

Annual Report on Form 10-K to be filed with the U.S. Securities Exchange Commission ("SEC"), which is accessible at

Conference Call and Webcast Information:

ApolloMed will host a conference call at

2 p.m. PT/5 p.m. ET today (Wednesday, March 10, 2021), during which management will discuss the results of the quarter and year

ended December 31, 2020. To participate in the conference call, please use the following dial-in numbers about 5 minutes prior

to the scheduled conference call time:

conference call can also be accessed at: https://78449.themediaframe.com/dataconf/productusers/ameh/mediaframe/43652/indexl.html

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, or by phone using the below information:

Conference ID#: 13716559

Conference Call Replay: 877-660-6853 (domestic)

or 201-612-7415 (international)

Expiration Date: 3/24/2021

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

Note About Stockholders' Equity, Certain Treasury Stock and

As of December 31, 2020, 276,038 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-enabled 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.

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 APC, Alpha

Care Medical Group 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