Clinigence Holdings Announces The Completion Of A $3 Million Strategic Equity Investment From Apollomed
Clinigence Holdings, Inc., one of the nation’s leading technology-enabled, risk-bearing population health management companies, announced that it has completed a $3 million strategic equity investment from Apollo Medical Holdings, Inc., one of the largest physician-centric, technology-powered, risk-bearing healthcare companies in the country.
Under the terms of the investment agreement, Clinigence issued 1,000,000 shares of common stock to ApolloMed at $3.00 per share with warrants to purchase an additional 500,000 shares at $3.50 per share. Brandon Sim, Chief Operating Officer and Chief Technology Officer of ApolloMed, will join Clinigence’s Board of Directors pursuant to the terms of the agreement.
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Based in Alhambra, California, ApolloMed is a leading physician-centric, technology-powered healthcare company focused on enabling providers in the successful delivery of value-based care. With over 25 years of operational experience, ApolloMed has over 7,000 physicians in its network and manages over 1.1 million patients.
“ApolloMed’s commitment to its patients and physicians has always been about excellence and innovation. We are pleased that ApolloMed has become a strategic investor in our company and believe there are numerous operating synergies for both companies. We look forward to our partnership,” stated Warren Hosseinion, M.D., Chairman and Chief Executive Officer of Clinigence. “This equity investment is another step in our growth strategy and also strengthens our balance sheet as we position the Company for uplisting on NASDAQ.”
“We are pleased to lend support to Clinigence, one of the nation’s leading population health management organizations, at this critical juncture in its development,” added Kenneth Sim, M.D., Executive Chairman and Co-Chief Executive Officer of ApolloMed. “We believe collaborating with Clinigence, a company that is as dedicated as we are to empowering providers in today’s changing healthcare landscape and improving clinical outcomes for patients, will lead to future growth opportunities for all parties over the long term.”
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