Apollo Medical Holdings, Inc. Announces Retirement of Noel DeWinter and Appointment of Kyle Francis as New Chief Financial Officer
GLENDALE, Calif.--(BUSINESS WIRE)-- Apollo Medical Holdings, Inc. (OTCBB:AMEH), a leading provider of hospitalist services to the healthcare community, today announced the planned retirement of Noel DeWinter, who has served as the Company's Chief Financial Officer since August 2008. Mr. DeWinter's retirement will take effect on December 31, 2010. He will work with the Company as a consultant through December 31, 2011. The company's Board of Directors has appointed Kyle Francis, who has served as Executive Vice President of Business Development and Strategy since 2008 as the new Chief Financial Officer.
"Noel has played a critical role in the Company's formation and growth during his tenure," commented Adrian Vazquez, M.D., Chairman of the Board of Directors. "On behalf of our Board and the entire ApolloMed team, I want to express our sincerest thanks to Noel for his leadership and commitment to all of the Company's stakeholders and wish him the very best in his retirement."
"We are pleased to announce the promotion of Kyle Francis, a seasoned finance executive with deep knowledge about the healthcare industry and extensive public company experience. He will provide strong and steady financial and corporate finance leadership as the Company enters into its next growth stage. We are very fortunate to have talented people like Mr. Francis to continue to build on the strong financial structure that Noel put in place."
Mr. Francis brings over 10 years of financial and transactional experience to the Company. Prior to joining Apollo, he was a member of the Healthcare Services Investment Banking Division of Oppenheimer & Co. and CIBC World Markets for 9 years. Based in New York and San Francisco, he advised public and private healthcare services companies and private equity investors on a range of growth and capital strategies, including public and private equity offerings, mergers and acquisitions, leveraged buyouts and debt financings. Prior to joining CIBC World Markets, Mr. Francis worked at Enron Corporation in Houston, Texas.
Mr. Francis holds a Bachelor of Commerce, major in finance and accounting degree from McGill University, where he graduated with Great Distinction.
About Apollo Medical Holdings, Inc.
Apollo is a leading provider of hospitalist services to the healthcare community in the Greater Los Angeles area. The company intends to capitalize on the growing market for hospital-based physicians, such as hospitalists, or physicians with expertise in hospital medicine. There are 4900 acute care hospitals in the U.S., with over 35 million annual admissions. Total U.S. spending on hospital care is over $650 billion, and is expected to increase to $1.3 trillion by 2016. There are tremendous inefficiencies in the delivery of inpatient care and a high rate of hospital errors. Both of these are drivers for the growth of hospital-based medicine. Apollo and its affiliated medical groups have proven expertise in providing excellent and efficient care to hospitalized patients.
To learn more about ApolloMed, please visit our website: www.apollomed.net.
Source: Apollo Medical Holdings, Inc.
Released December 22, 2010