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Apollo Medical Holdings, a California-headquartered integrated population health management company delivering value-based care, has taken a minority equity stake and board seat in Florida-based telehealth company LifeMD.
The company will take a minority equity stake in LifeMD and Warren Hosseinion, MD, chief executive officer of ApolloMed, will take a seat on the LifeMD board of directors.
LifeMD currently provides telehealth services in 43 states. Its telehealth solution allows healthcare providers and patients to connect and manage medical conditions which can be treated and monitored remotely.
With this partnership, ApolloMed anticipates to align LifeMD's telehealth infrastructure with its network of ACO, IPA, hospitalist group, hospice/palliative care and home health operations. LifeMD will leverage ApolloMed's comprehensive network of primary care and specialist providers to expand its physician network.
"We are committed to partnering with innovative healthcare technology companies that help us achieve the triple aim of improved quality of care, improved patient satisfaction and reduced healthcare expenditures," said Hosseinion.
"We were very impressed with LifeMD's medical-grade telehealth equipment, proprietary cloud-based software and support services, and see great potential in improving access to healthcare for our patients, deploying our Apollo Care Connect digital care plans across the care continuum and managing care in more cost-effective and convenient settings for patients."
Mark Vollaro, CEO of LifeMD, stated: "Our mission is to become one of the leading providers of telehealth services in the US. We appreciate the confidence and support from ApolloMed, and believe this partnership will benefit both of our organisations. We are excited at the potential to integrate with ApolloMed's large ecosystem of providers and medical groups to increase the overall quality and convenience of care."
ApolloMed, Health management, Minority equity stake, Acquisition, LifeMD, US, Mark Vollaro