Apollo Medical to acquire assets relating to Texas Independent Providers

Apollo Medical Holdings announced that it and its affiliated professional entity have entered into a definitive agreement to acquire assets relating to Texas Independent Providers. Through its coordinated network of over 120 primary care providers, TIP provides high-quality primary care services to over 4,500 Medicare Advantage patients in communities throughout Harris County, home to Houston, the largest city in Texas and fourth-largest city in the U.S.. Through this transaction, ApolloMed will deploy its value-based care management and operational platform to empower TIP’s provider network to deliver best-in-class clinical outcomes and to improve the healthcare experience for its patients. The acquisition marks ApolloMed’s expansion of its Care Partners business into the Texas geography. The Company anticipates closing this transaction in the Q3 and will fund the transaction with cash on hand. As part of the acquisition, Carlos Palacios, President of TIP, will join ApolloMed as the Chief Medical Officer for Texas and spearhead clinical initiatives for providers. Vincent Roth, co-founder and Executive Director of TIP, will join ApolloMed as the Group Vice President of Operations for Texas and lead the continued growth and development of ApolloMed’s Texas network.