Apollo Medical Holdings, Inc. Announces New Contract and Expansion of Hospitalist Services At Two Hospitals In the Greater Covina Area
GLENDALE, Calif.--(BUSINESS WIRE)-- Apollo Medical Holdings, Inc. (OTCBB:AMEH), a leading provider of management services to medical groups that provide comprehensive hospital-based medical services, today announced that ApolloMed Hospitalists, one of its affiliated medical groups, has signed a hospitalist service agreement with an IPA partner to provide inpatient care at 325-bed CVMC-Queen of the Valley Hospital in West Covina and 222-bed CVMC-InterCommunity Hospital in Covina.
"We are excited about the expansion of our service offering into these two outstanding hospitals. We believe the Greater Covina area represents an excellent growth opportunity for ApolloMed," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings, Inc.
"ApolloMed now provides hospitalist services at thirteen hospitals in the Greater Los Angeles area," stated Adrian Vazquez, M.D., President and Chairman of Apollo Medical Holdings, Inc. "Our growth during challenging economic times reinforces the value of the services we offer."
ApolloMed named Mikhail Blinchik, M.D. as it Site Director for the Greater Covina area.
About Apollo Medical Holdings, Inc.
Apollo is a leading provider of management services to medical groups that provide comprehensive hospital-based medical services. 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.
Source: Apollo Medical Holdings, Inc.
Released November 2, 2009