Alhambra-based Apollo Medical Holdings, which helps physician-based medical groups operate more efficiently, announced that it had acquired nine primary care clinics from Las Vegas-based Valley Oaks Medical Group for an undisclosed sum, the Los Angeles Business Journal reports.
The nine clinics are in the Las Vegas metro area, as well as in Houston and Fort Worth, Texas.
According to the announcement, which was made on Oct. 5, Apollo Medical will fund the purchase of the clinics from cash on hand. The deal is expected to close by the end of this year.
Apollo Medical Holdings, which began in the mid-1990s as National Medical Management before changing its name in 2017, specializes in arranging contracts with insurance companies for its customers, who are primarily independent physician associations (IPAs), or groups of physician practices. Read more.
