Hospitalist service provider Apollo Medical Holdings has acquired the Aligned Healthcare Group, which operates 24-hour physician call centers and provides specialized care management services.
“Integrating inpatient care and outpatient services as well as providing 24/7 physician access is a unique value and essential for desired clinical and financial outcomes,” said Raouf Khalil, Aligned Healthcare's CEO, in a press release. “This combination of services does not exist in the market today and is in great demand as provider entities look for solutions to improve patient care and improve performance and accountability throughout their organizations.”
Khalil was named president of the Los Angeles-based Aligned Healthcare Group and will join Apollo Medical Holdings’ board of directors.
“The new ApolloMed integrated model provides the infrastructure to help provider groups and health plans achieve objectives for utilization efficiency, quality of care and cost control within the shared accountability arrangements that are emerging within the world of healthcare payment reform,” said Warren Hosseinion, MD, chief executive officer of Glendale, Calif.-based Apollo Medical Holdings, in the press release.
Apollo, which will have full ownership interest in Aligned, will issue 1 million common shares to Aligned’s shareholders and, over the next three years, pay up to an additional 4.5 million common shares, subject to a performance earnout based on cash flow.