Network Medical Management, Inc. Enters into a Ten Year Management Services Agreement with Accountable Health Care IPA
January 08, 2018 at 06:00 am EST
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Apollo Medical Holdings, Inc. announced that Network Medical Management, Inc. ("NMM"), has entered into a ten year Management Services Agreement ("MSA") with Accountable Health Care IPA. Additionally, a variable interest entity ("VIE") of ApolloMed has extended a line of credit of up to $18 million to Accountable IPA to fund working capital needs. Pursuant to the terms of the 10-year MSA, NMM will be responsible for managing all health plan members assigned or delegated to Accountable IPA, as well as all hospital risk pools. This effort is expected to be supported by the Company's population health management platform, which includes administrative, clinical and technology capabilities. In connection with the MSA, a VIE of ApolloMed has extended a line of credit of up to $18 million to Accountable IPA to fund the IPA's working capital needs. The ApolloMed VIE shall have the right, but not the obligation, to convert a portion or all of the principal amount into shares of Accountable IPA's capital stock. Concurrent with the initial funding, the Accountable IPA Board of Directors has been reconstituted to be comprised of two directors, including one director from NMM.
Astrana Health, Inc. is a healthcare company. The Company provides care coordination services to each constituent of the healthcare delivery system, including patients, families, primary care physicians, specialists, acute care hospitals, alternative sites of inpatient care, physician groups, and health plans. The Company's Care Enablement segment is an integrated, end-to-end clinical and administrative platform, powered by its technology suite, which provides operational, clinical, financial, technology, management, and strategic services. Its Care Partners segment is focused on building and managing provider networks by partnering with provider partners for coordinated care delivery. Its Care Delivery segment is a data-driven care delivery organization focused on delivering accessible care to all patients. Its care delivery organization includes primary care, multi-specialty care, and ancillary care services.