UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
Washington, D.C. 20549
FORM 8-K
CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d) OF
THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): October 17, 2012
APOLLO MEDICAL HOLDINGS, INC.
(Exact name of registrant as specified in its charter)
| Delaware | 000-25809 | 20-8046599 | ||
| (State or Other Jurisdiction | (Commission File | (I.R.S. Employer | ||
| of Incorporation) | Number) | Identification Number) |
700 N. Brand Blvd., Suite 450, Glendale, CA 91203
(Address of principal executive offices) (zip code)
(818) 396-8050
(Registrant's telephone number, including area code)
450 N. Brand Blvd., Suite 600, Glendale, CA 91203
(Former name or former address, if changed since last report)
Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
| ¨ | Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425) |
| ¨ | Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12) |
| ¨ | Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b)) |
| ¨ | Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c)) |
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers
Effective as of October 17, 2012 Mark A. Meyers was elected to the Company’s Board of Directors. Mr. Meyers will also serve as Chief Strategy Officer for ApolloMed. In connection with his service to the Company as a director and Chief Strategy Officer, Mr. Meyers entered into the Company’s form of Director Agreement which entitles Mr. Meyers to receive a fee of $1,000 per board meeting attended as well as a grant of 400,000 restricted shares of the Company’s common stock for his board service. These restricted shares will vest on a monthly basis evenly over a 3 year period.
Effective as of October 22, 2012 Mitchell R. Creem was elected to the Company’s Board of Directors. In connection with his service to the Company as a director, Mr. Creem entered into the Company’s form of Director Agreement which entitles Mr. Creem to receive a fee of $1,000 per board meeting attended, as well as a grant of 500,000 restricted shares of the Company’s common stock for his board service. These restricted shares will vest on a monthly basis evenly over a 3 year period.
Item 7.01 Regulation FD Disclosure.
On October 17, 2012 and October 22, 2012, respectively, the Company issued press releases concerning some of the matters discussed above. Copies of such press releases are being furnished as Exhibit 99.1 and Exhibit 99.2 to this current report on Form 8-K.
The information in this Item 7.01 of this current report on Form 8-K, together with the information in Exhibit 99.1 and Exhibit 99.2, is being furnished and shall not be deemed “filed” for the purposes of Section 18 of the Securities Exchange Act of 1934, as amended, or otherwise subject to the liabilities of that Section. Such information shall not be deemed incorporated by reference into any registration statement or other document filed with the SEC.
Item 9.01 Financial Statements and Exhibits
(d) Exhibits.
| 99.1 | Press Release of Apollo Medical Holdings, Inc. dated October 17, 2012 | |
| 99.2 | Press Release of Apollo Medical Holdings, Inc. dated October 22 , 2012 |
| 2 |
SIGNATURES
Pursuant to the requirements of the Securities and Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.
| APOLLO MEDICAL HOLDINGS, INC. | ||
| Dated: October 17, 2012 | By: | /s/ Warren Hosseinion |
| Name: Warren Hosseinion | ||
| Title: Chief Executive Officer | ||
| 3 |
Apollo Medical Holdings, Inc. Announces Appointment Of Mark A. Meyers To Its Board of Directors
Company Also Names Mr. Meyers As Its Chief Strategy Officer
GLENDALE, Calif., Oct. 17, 2012 /PRNewswire via COMTEX/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB-AMEH),
a leading provider of hospitalist, critical care, ACO and multi-disciplinary care management services in Central and Southern California,
today announced the appointment of Mark A. Meyers to its Board of Directors. Mr. Meyers will also serve as Chief Strategy Officer
for ApolloMed.
Mr. Meyers is a senior healthcare executive whose career spans over 30 years. Most recently, from April 2009 until September 2012, he served as Senior Vice President of Operations for Dignity Health's Los Angeles Service Area, which encompasses four hospitals, as well as President of Glendale Memorial Hospital and Health Center. Dignity Health, formerly Catholic Healthcare West, is the fifth largest hospital system in the nation.
Prior to this, from 2001 to 2009, Mr. Meyers was President of California Hospital Medical Center, a 316-bed Dignity facility in Downtown Los Angeles which also serves as a Level II trauma center. Prior to this, he worked for Tenet Healthcare Corporation from 1987 to 1997, serving as CEO for several hospitals, including Garden Grove Hospital in Garden Grove, California, Western Medical Center in Anaheim, California, Coastal Communities Hospital in Santa Ana, California, Doctors Hospital of Santa Ana and Santa Ana Hospital Medical Center. Mr. Meyers has also served as President and CEO of West Hills Hospital and Medical Center, a 272-bed facility in West Hills, California and CEO of Florida Medical Center, a 460-bed hospital in Broward County, Florida.
Mr. Meyers received a Bachelor of Science in Psychology from the University of Pittsburgh and a MPH from the University of Pittsburgh's Graduate School of Public Health. He is a Board Member of the Hospital Council of Southern California and Board Member of the Orange County Symphony.
"We are privileged to have Mark join our Board of Directors and serve as our Chief Strategy Officer," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings, Inc. "He is an accomplished healthcare leader who has a profound understanding of the changes which are occurring in the healthcare industry. Mark is very proactive and will be a valuable member of our senior operations team."
"I believe in the vision that Apollo Medical Holdings has to provide a logical and attractive alternative for independent physicians, hospitals and managed care organizations that want to improve the quality and efficiency in the delivery of patient care," stated Mark Meyers. "I look forward to playing a role in the achievement of this role."
About Apollo Medical Holdings, Inc.
ApolloMed is a leading provider of integrated medical management services that improves the efficiency in inpatient care plus multi-disciplinary care management services targeting inefficiencies in healthcare payer and provider networks. Our integrated model combines hospitalist medicine, critical care medicine, 24-hour physician call centers, case management and transition management that offers to help healthcare organizations engage in performance payments for utilization efficiency, quality of care objectives and shared accountability arrangements. ApolloMed ACO was one of only eight ACOs selected to participate in the Medicare Shared Savings Program by CMS in California in 2012.
For more information please contact:
Media Contact:
Nidia Flores 818-396-8050 nflores@apollomed.net
SOURCE Apollo Medical Holdings, Inc.
www.prnewswire.com
Apollo Medical Holdings, Inc. Announces Appointment Of Mitchell R. Creem To Its Board of Directors
GLENDALE, Calif., Oct. 22, 2012 /PRNewswire via COMTEX/ -- Apollo Medical Holdings, Inc. ("ApolloMed") (OTCQB-AMEH),
a leading provider of hospitalist, critical care, ACO and multi-disciplinary care management services in Central and Southern California,
today announced the appointment of Mitchell R. Creem to its Board of Directors as well as Chairman of the Audit Committee.
Mr. Creem is a seasoned healthcare executive whose career spans over 25 years. He is widely known for his experience in revitalizing academic medical centers and he has influenced all aspects of the healthcare industry, including hospital, research and faculty group practice management.
Mr. Creem is currently the President of The Bridgewater Healthcare Group, which provides hospitals and health networks with consulting services through an integrated business approach to sustainability, covering all aspects of financial and operational management.
Prior to this, from June 2008 to January 2012, he was the CEO of USC University Hospital and USC Norris Cancer Hospital. He led the ownership transition from Tenet Healthcare Corporation to the university, including the creation of a new culture of collaboration and patient service. In three years, patient revenues grew by 50%, from $400 million to $600 million, patient volumes expanded by 10% a year, employee retention improved from 76% to 96% and patient satisfaction improved by 10 percentile points.
From September 2004 to May 2008, Mr. Creem served as the CFO and Associate Vice Chancellor of UCLA Medical Center. He was responsible for the successful financial performance of a $2 billion operating budget, including the Geffen School of Medicine at UCLA, the UCLA Faculty Practice Group, the UCLA Hospital System comprising nearly 1000 beds, including UCLA Medical Center, Santa Monica UCLA Medical Center, Mattel Children's Hospital and Resnick Neuropsychiatric Hospital. At UCLA, he improved the cash position to $80 million and improved profitability by $60 million.
Prior to this, from 2000 to 2004, Mr. Creem served as CFO of Beth Israel Deaconess Medical Center, a 600-bed Harvard teaching hospital. He was responsible for a $1 billion operating budget with total assets of $1 billion. He decreased accounts receivables 35 days, reduced long-term debt $150 million, reduced FTEs per adjusted occupied bed from 6.1 to 4.8 and reduced costs per adjusted patient day 20%. He played a key role in bringing the medical center from a $70 million loss in FY2001 to a $30 million profit in FY2004.
From 1996 to 2000, he served as CFO of Tufts Medical Center, a 415-bed hospital in Boston affiliated with Tufts University. Through focused, diligent execution, the turnaround plan at Tufts resulted in a bottom-line improvement of $30 million.
Mr. Creem served as an Administrator at Massachusetts General Hospital, a 907-bed Harvard teaching hospital from 1989 to 1995, where he helped launch two for-profit subsidiaries in international telemedicine services and hardware/software sales. Prior to this, he was a senior manager at PricewaterhouseCoopers from 1983 to 1989 and worked in its Healthcare Practice Group.
Mr. Creem received a Bachelor of Science in Accounting and Business Administration from Boston University and a Masters in Hospital Administration from Duke University. He is an Adjunct Instructor at the USC Price School of Public Policy.
"We are honored to have Mitch join our Board," stated Warren Hosseinion, M.D., Chief Executive Officer of Apollo Medical Holdings, Inc. "We look forward to his wisdom and experience, not only as an expert in financial and accounting systems and reporting, but also in the specialized needs of healthcare industry companies."
"I am delighted to be a part of the ApolloMed family at this pivotal point in a rapidly changing healthcare environment," stated Mitchell R. Creem. "I look forward to working with Warren and his team as he unveils his bold new vision to be a leader in the delivery of healthcare services."
About Apollo Medical Holdings, Inc.
ApolloMed is a leading provider of integrated medical management services that improves the efficiency in inpatient care plus multi-disciplinary care management services targeting inefficiencies in healthcare payer and provider networks. Our integrated model combines hospitalist medicine, critical care medicine, 24-hour physician call centers, case management and transition management that offers to help healthcare organizations engage in performance payments for utilization efficiency, quality of care objectives and shared accountability arrangements. ApolloMed ACO was one of only eight ACOs in California selected to participate in the Medicare Shared Savings Program in 2012 by CMS. ApolloMed is based in Glendale, California.
For more information please contact:
Media Contact:
Nidia Flores818-396-8050nflores@apollomed.net
SOURCE Apollo Medical Holdings, Inc.
www.prnewswire.com