Apollo Medical to acquire assets of Community Family Care Medical Group IPA

Apollo Medical Holdings announced that it and its affiliated professional entity have entered into a definitive agreement to acquire assets relating to Community Family Care Medical Group IPA, including the CFC independent physician association, the CFC Health Plan and CFC’s management services organization entities. CFC’s scaled provider group, with more than 350 primary care physicians and 500 specialists on platform, manages the healthcare of over 200,000 members in the Los Angeles, California area. The group serves patients across Medicare, Medicaid, and Commercial payers. CFC, which became an ApolloMed Care Enablement client in 2020, has a Restricted Knox Keene license for Medicaid members, and will seamlessly integrate as an ApolloMed Care Partner as it continues to utilize our Care Enablement platform. For 2023, CFC as a whole is expected to generate approximately $190M in revenue. CFC’s adjusted EBITDA for the full year is expected to be approximately $25M, reflecting a margin of approximately 13%.