Navigation Links
Apollo Medical Holdings Reports Record Fiscal 2014 Second Quarter Results

GLENDALE, Calif., Sept. 16, 2013 /PRNewswire/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB: AMEH), an integrated physician-driven healthcare delivery company that puts 'Patients First,' today announced its fiscal 2014 second quarter results for the three and six  months ended July 31, 2013.

Financial Highlights for Three Months Ended July 31, 2013 Compared to Three Months Ended July 31, 2012:

  • Net revenues increased 57% to a record $2.59 million from $1.65 million.  Approximately $740,000 of the increase can be attributed to the success that the Company continues to enjoy winning new hospital contracts and increasing revenues from existing medical group clients at the new hospitals being served.
  • Loss from operations totaled $1.36 million, which compared to a loss from operations of approximately $63,000. The increase is due primarily to an increase in physician stock-based compensation of approximately $423,000, $688,000 in physician costs attributable to new physicians hired to support new contracts, and $544,000 in stock-based compensation for employees, directors and consultants. In addition, approximately $227,000 in expenses associated with support of Maverick Medical Group launched earlier this year and the continued investment in ApolloMed ACO, contributed to the higher loss from operations in the second quarter period.
  • Non-GAAP* Adjusted EBITDA loss totaled approximately $309,000 compared to positive EBITDA of approximately $23,000.
  • Net loss declined 52% to $1.53 million, or $0.04 loss per basic and diluted share, from $3.20 million, or $0.10 loss per basic and diluted share.
  • Financial Highlights for Six Months Ended July 31, 2013 Compared to Six Months Ended July 31, 2012:

  • Net revenues totaled $5.04 million, rising 54% from $3.28 million due primarily to  new hospital contracts, increased same-market area growth and expansion of services with the Company's current medical group clients.
  • After factoring non-cash stock-based compensation costs for physicians, employees, directors and consultants of $1.48 million, coupled with approximately $1.06 million in expenses for new physicians hired to support new hospital contracts, loss from operations increased to roughly $2.07 million from approximately $117,000.
  • Non-GAAP* Adjusted EBITDA loss totaled approximately $390,000 compared to positive EBITDA of  approximately $79,000.
  • Net loss decreased 29% to $2.38 million, or $0.07 loss per basic and diluted share, compared to $3.36 million, or $0.11 loss per basic and diluted share.
  • As of July 31, 2013, cash and cash equivalents totaled $1.25 million and total stockholders' deficit was approximately $1.27 million.  Net cash used in the Company's operating activities for the first six months of fiscal 2014 was $298,000, up from approximately $65,000 for the same six months in the prior fiscal year.

    Commenting on the results, Warren Hosseinion, MD, CEO and President of ApolloMed, stated, "During the second quarter, we continued to successfully execute our multi-channel growth strategies, leveraging our strong reputation as a trusted partner to all stakeholders in the care continuum.  By consistently delivering best in class inpatient and outpatient services to residents of Los Angeles and Central California, ApolloMed Hospitalists continues to achieve record revenue growth on a quarter-over-quarter basis – an accomplishment in which we take immense pride.  Moreover, both ApolloMed ACO and Maverick Medical have continued to make notable progress over the past several months with implementing key initiatives designed to attract leading physicians, specialty care groups and medical institutions to our exciting, high growth platforms.
    We look forward to detailing specific wins in this regard in a series of news announcements in the coming weeks and months."

    For more details on ApolloMed's fiscal 2014 second quarter results, please refer to the Company's 10-Q filed with the U.S. Securities Exchange Commission and accessible at  


    ,252,410$   1,176,727 Accounts receivable, net 

    1,426,0221,582,505 Due from affiliates 

    -5,648 Prepaid expenses 

    33,57172,628 Deferred financing costs, current 

    40,02534,614Total current assets 

    2,752,0282,872,122 Deferred financing costs, non-current 

    243,616218,640 Property and equipment, net66,87768,142 Goodwill 

    33,20033,200 Other assets 

    40,98130,981TOTAL ASSETS$
    3,136,702$   3,223,085 LIABILITIES AND STOCKHOLDERS' DEFICITCURRENT LIABILITIES: Accounts payable and accrued liabilities 

    950,651 Notes payable 

    594,765594,765 Stock issuable654,034159,334Total current liabilities 

    2,242,9921,704,750 Convertible notes payable, net 

    2,163,1711,909,714Total liabilities 

    4,406,1633,614,464STOCKHOLDERS' DEFICITPreferred stock, par value $0.001 ; 5,000,000  shares authorized; none issued

    --Common Stock, par value $0.001; 100,000,000 shares authorized, 35,918,441 and 34,843,441 shares issued and outstandingas of July 31, 2013 and January 31, 2013, respectively

    35,91934,844Prepaid consulting

    (401,422)(616,014)Additional paid-in-capital

    12,769,69911,248,566Accumulated deficit 


    (999,308)(354,876)Non-controlling interest

    (270,153)(36,503)Total stockholders' deficit

    3,136,702$   3,223,085APOLLO MEDICAL HOLDINGS, INC.CONSOLIDATED STATEMENTS OF OPERATIONS(UNAUDITED) Three months ended July 31,  Six months ended July 31, 2013201220132012Net Revenues

    3,281,295Cost of Services

    2,366,3931,205,6734,226,8862,534,332Gross Profit

    226,653443,778812,726746,963Operating expenses:General and administrative


    6,3864,94613,0389,737Total operating expenses

    1,587,040506,8042,885,085863,142Loss From Operations

    (1,360,387)(63,026)(2,072,359)(116,179)Other income (expense)Loss on change in fair value of derivative liabilities 

    -(2,914,549)-(2,790,711)Interest expense 

    (170,806)(224,906)(298,299)(448,942)Other expense 

    (924)455(1,170)450Total other expenses

    (171,730)(3,139,000)(299,469)(3,239,203)Loss Before Income Taxes

    (1,532,117)(3,202,026)(2,371,828)(3,355,382)Provision for Income Tax

    -8009,4044,800Net Loss

    $  (1,532,117)$  (3,202,826)$  (2,381,232)$

    35,801,68331,015,90435,327,88530,780,543BASIC AND DILUTED NET LOSS PER SHARE

    (2,072,359)$ (116,179)Depreciation and amortization expense6,3864,94613,0389,737EBITDA(1,354,001)(58,080)(2,059,321)(106,442)Stock-based compensation expense1,045,48780,9301,668,713185,064ADJUSTED EBITDA$
    78,622*Use of Non-GAAP Financial Measures
    In addition to containing results that are determined in accordance with accounting principles generally accepted in the United States of America (GAAP), this press release also contains non-GAAP financial measures. Adjusted EBITDA, as used in this press release, represents Loss from Operations before depreciation, adjusted for issuance of shares for service, stock option expense, amortization of debt discount and impairment of intangibles and losses on discontinued operations. Adjusted EBITDA is a key indicator used by management to evaluate operating performance. While adjusted EBITDA is not intended to replace any presentation included in the consolidated financial statements under GAAP and should not be considered an alternative to operating performance or an alternative to cash flow as a measure of liquidity, the Company believes this measure is useful to investors in assessing the Company's ongoing operating performance and working capital requirements. This calculation may differ in method of calculation from similarly titled measures used by other companies. A reconciliation of adjusted EBITDA to the nearest comparable GAAP financial measure is included in the financial schedules accompanying this press release. The Non-GAAP financial measures, as well as other information in this press release, should be read in conjunction with the Company's financial statements filed with the Securities and Exchange Commission and accessible at

    About Apollo Medical Holdings, Inc. (ApolloMed)
    Headquartered in Glendale, California and dedicated to putting the 'Patient First,' ApolloMed is a leading provider of physician-driven integrated healthcare management services, fueled by its commitment to provide exceptional multi-disciplinary care in the communities it serves in Southern and Central California.  ApolloMed is addressing the healthcare needs of the nation's largest population center by leveraging its integrated healthcare delivery platform comprised of three affiliated and complementary physician groups:  ApolloMed Hospitalists, ApolloMed ACO (Accountable Care Organization) and Maverick Medical Group (Independent Physician Association).  This platform combines hospitalist medicine, critical care medicine, case management and transition management that enable healthcare organizations to engage in performance payments for utilization efficiency, quality of care objectives and shared accountability arrangements.  ApolloMed strives to improve medical outcomes with high quality, cost efficient care.
    For more information, please visit

    Forward Looking Statements
    This press release may contain forward-looking statements, including information about management's view of Apollo Medical Holdings, Inc. ("the Company") future expectations, plans and prospects.  In particular, when used in the preceding discussion, the words "believes," "expects," "intends," "plans," "anticipates," or "may," and similar conditional expressions are intended to identify forward-looking statements.  Any statements made in this press release other than those of historical fact, about an action, event or development, are forward-looking statements.  These statements involve known and unknown risks, uncertainties and other factors, which may cause the results of the Company, its subsidiaries and concepts to be materially different than those expressed or implied in such statements.  Unknown or unpredictable factors also could have material adverse effects on the Company's future results.  The forward-looking statements included in this press release are made only as of the date hereof.  The Company cannot guarantee future results, levels of activity, performance or achievements.  Accordingly, you should not place undue reliance on these forward-looking statements.  Finally, the Company undertakes no obligation to update these statements after the date of this release, except as required by law, and also takes no obligation to update or correct information prepared by third parties that are not paid for by Apollo Medical Holdings, Inc.For More Information, PLEASE CONTACT:Hanover|EliteKathy Addison, Chief Operating Officer 407-585-1080 or via email at 

    SOURCE Apollo Medical Holdings, Inc.
    Copyright©2012 PR Newswire.
    All rights reserved

    Related medicine technology :

    1. Orange County Hospital System, Integrated Healthcare Holdings, Joins ApolloMed ACO
    2. Apollo Medical Holdings Announces Record Fiscal Year-End Results
    3. Smt. Sheila Dikshit Unveils South Asias First PET SUITE at Indraprastha Apollo Hospitals
    4. Apollo Hospitals Perform Revolutionary Minimally Invasive Knee Replacement (Resurfacement) Surgery
    5. Apollo Hospitals to Establish the First Proton Therapy Center for Cancer Treatment to Serve Over 3.5 Billion People
    6. Apollo Telemedicine Service Launched in Yangon
    7. ApolloMed ACO Selected To Participate In A Transformative New Initiative Sponsored by the Centers for Medicare and Medicaid Services
    8. Olympus Medical Business Launches New Website to Enhance Customer Experience
    9. At One Month Post-Launch, Nearly One-Quarter of Surveyed U.S. Medical Oncologists Have Prescribed Xofigo to Their Prostate Cancer Patients
    10. Apama Medical, A Shifamed Portfolio Company, Closes $3.2M Series A-1 Financing Round
    11. Aethlon Medical Announces Dr. Douglas Taylor as Chief Scientific Officer of Exosome Sciences, Inc.
    Post Your Comments:
    (Date:10/9/2015)... October 9, 2015 ... sich einer Kolonoskopie im Rahmen eines Screenings, ... Die NOCT-Studie bewertete auch die Compliance, Sicherheit, ... ® ) an erwachsenen Patienten vergleicht, ... Screenings, einer beobachtenden oder einer diagnostischen Kolonoskopie ...
    (Date:10/9/2015)... -- --> --> ... of an Intellectual Property & Subsidiary Assignment and an Assignment & Assumption ... Corporation, related party, and a majority holder of 88% ... --> These agreements were executed as part of ... and Development components shall now be separate from the ...
    (Date:10/9/2015)... India , October 9, 2015 ... --> The report ... market and overall status of the ... of guidance and direction for companies ... . ...
    Breaking Medicine Technology:
    ... /PRNewswire-Asia-FirstCall/ -- Tianyin Pharmaceutical Co., Inc. (NYSE Amex: ... patented biopharmaceutical, modernized traditional Chinese medicine, branded generics and ... Shareholder Meeting to the 26th floor, Conference Room E ... (EDT). Shareholders will be admitted beginning at 9:30 am. ...
    ... 2011 Bacterin International Holdings, Inc. (NYSE Amex: ... that it has scheduled a conference call ... to discuss the Company,s financial results for its fourth ...   Bacterin International Holdings, Inc. intends to issue its earnings ...
    Cached Medicine Technology:
    (Date:10/9/2015)... ... 09, 2015 , ... The American Osteopathic Foundation (AOF) has ... Education J. Michael Finley, DO, as the recipient of the 2015 W. Douglas ... on graduate medical education opportunities for osteopathic residents, and his dedication to promoting ...
    (Date:10/9/2015)... ... October 09, 2015 , ... A new health tool that helps identify ... available online ( ) – just in time for the cold and flu ... October. However, for many in the U.S., the real start of cold/flu season is ...
    (Date:10/9/2015)... ... October 09, 2015 , ... ... promotion on Invisalign, the orthodontic system that uses clear, plastic aligners. This alternative ... invisible against the teeth, which allow patients to complete treatment in privacy. Additionally, ...
    (Date:10/9/2015)... Washington, DC (PRWEB) , ... October 09, 2015 , ... ... agreement from the US Centers for Disease Control and Prevention (CDC) to improve the ... 14 years that AAFA has been awarded a project by the CDC and allows ...
    (Date:10/9/2015)... Ohio (PRWEB) , ... October 09, 2015 , ... ... United States, is welcoming individuals from all walks of life to save money ... the set price of $25 per month per medication, individuals and families can ...
    Breaking Medicine News(10 mins):
    ... 12 ISTA Pharmaceuticals, Inc. (Nasdaq: ISTA ), today ... on February 19, 2009, and will host a conference call to ... Eastern Time. , , , Date: ... Time, Conference call access:, Internet: ...
    ... Pamper Tired TootsiesBETHESDA, Md., Feb. 12 Valentine,s Day marks ... men and women. While the old adage "a way to ... true, another body part is gaining affection from both sexes ... (APMA) survey revealed 84 percent of women are embarrassed about ...
    ... MediCom Worldwide, Inc., an accredited provider of continuing medical ... of an online repository of resources and education on ... of health care practitioners.The goal of Managing ... to provide an extensive array of programs to support ...
    ... Scientists studying an inherited condition resulting in blindness and ... affect both eye function and normal tooth development. ... the formation of teeth and eyes has been uncovered ... in two families living in a village in the ...
    ... a key role in the prevention and treatment of ... Endothelial cells line the blood vessels and are critical ... , Researchers at the Centenary Institute have discovered ... cells. , Professor Jenny Gamble, Head of ...
    ... research will focus increasingly on electronic data, with less ... long term trend emerged at a recent conference on ... dealt with the challenges posed by the growing scale ... But in the more immediate future biological specimens will ...
    Cached Medicine News:
    ... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
    ... ARUP Laboratories is a national reference ... laboratory research and development. ARUP offers an ... unique medical tests in clinical and anatomic ... ARUP Laboratories' clients include more than half ...
    ... national reference laboratory and a worldwide leader ... offers an extensive test menu of highly ... and anatomic pathology. Owned by the University ... than half of the nation's university teaching ...
    ... is a national reference laboratory and a ... development. ARUP offers an extensive test menu ... in clinical and anatomic pathology. Owned by ... include more than half of the nation's ...
    Medicine Products: