Apollo Medical Holdings Inc. of Glendale announced Thursday that it is joining with Alhambra-based Network Medical Management Inc. in a stock-for-stock merger.

The deal was approved unanimously by the board of directors of both companies and will create “one of the nation’s largest integrated population health management companies,” according to a joint statement. Financial details of the transaction weren’t disclosed, and the deal is expected to be completed June 30.

The combined organization will continue as Apollo Medical Holdings, the companies said. The firms together had more than $330 million in revenue in 2015 and provided medical management for more than 700,000 patients through a network of more than 3,000 health care professionals and 400 employees, they said.

Under terms of the merger, Network Medical shareholders are expected to own 80 percent of shares with Apollo shareholders retaining 20 percent, respectively, on a fully diluted basis, the companies said. Network Medical also agreed to relinquish its redemption rights for preferred stock it owns in Apollo.

Privately held Network Medical provided a $10 million equity investment to Apollo in October 2015 and a $5 million investment in March.

Apollo’s share price has declined in value by 5.7 percent through the year ended Dec. 22, closing at $4.95 a share. That’s down from an April high of $7.50 a share. However, Thursday’s closing price represented a 24 percent gain from its previous trading price of $3.99.

The company has a market capitalization of $29.5 million.