Apollo Medical Holdings is set to acquire physicians group All American Medical Group and its affiliate For Your Benefit for an undisclosed amount.
All American Medical Group specializes in providing care to San Francisco and has more than 250 physicians. With these acquisitions, All American Medical Group will serve 30,000 new members in the Bay Area. The company expects to close the deal by the end of the first quarter of 2023.
Apollo plans to fund the acquisitions through cash on hand and stock. For Your Benefit is licensed by the California Department of Managed Healthcare as a full-service Restricted Knox-Keene licensed health plan.
"We are thrilled to join ApolloMed and its extensive end-to-end care delivery network. ApolloMed is a leader in empowering providers in the delivery of value-based care, and our physicians look forward to onboarding onto the ApolloMed platform, which will bring numerous advantages in care management and patient data analysis," Chair of All American Medical Man-Kit Leung, MD, said. "We believe joining the ApolloMed family will enable our providers to put greater focus on doing what they love — serving their patients — while allowing them to continue running their independent practices."