Apollo Medical Holdings Inc. announced the launch of a new business that will own doctor clinics.
The Glendale company, which provides doctors to hospitals, said ApolloMed Care Clinics would include both primary care doctors and post-discharge practices. The focus will be on preventative medicine and chronic condition treatment.
The company said it has purchased three clinics and will start one from scratch. The company did not provide exact locations, but said all the clinics are in the Los Angeles region.
“We are pleased to partner with local physicians to help expand their practices and improve access to managed care contracts through our relationships,” Chief Executive Dr. Warren Hosseinion said in a statement. “As the nation’s health care model continues to rapidly change and the number of insured patients without a primary care physician increases, ApolloMed intends to meet the needs of patients with easily accessible, high-quality primary care.”
The company’s share price remained unchanged at 51 cents in light trading on the over-the-counter market.