GLENDALE, Calif., July 1, 2011 /PRNewswire/ -- Apollo Medical Holdings, Inc. (OTC-BB: AMEH), a leading provider of hospitalist and care management services to the healthcare community, today announced that ApolloMed Hospitalists, one of its affiliated medical groups, signed a service agreement with CareMore Health Plan to provide inpatient care services to its members at White Memorial Hospital, Glendale Memorial Hospital and Glendale Adventist Medical Center. Cerritos, Ca.-based CareMore is primarily a senior-benefits health plan with 54,000 members in California, Arizona and Nevada, and recently entered into an agreement to be acquired by WellPoint, Inc. for $800 million.
"CareMore is an exceptional health plan with an outstanding reputation for patient care. We look forward to working with their management and care teams to improve patient care and efficiencies at these three hospitals," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings.
About Apollo Medical Holdings, Inc.
Apollo is a leading provider of hospitalist and multi-disciplinary care management 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.
SOURCE Apollo Medical Holdings, Inc.