Clinigence Holdings Announces The Completion Of A $3 Million Strategic Equity Investment From Apollomed

FT. LAUDERDALE, Fla. and ALHAMBRA, Calif., Sept. 23, 2021 /PRNewswire/ -- Clinigence Holdings, Inc. ("Clinigence" or the "Company") (OTC: CLNH), one of the nation's leading technology-enabled, risk-bearing population health management companies, today announced that it has completed a $3 million strategic equity investment from Apollo Medical Holdings, Inc. ("ApolloMed") (NASDAQ: AMEH), 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.

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."

About Clinigence Holdings, Inc.

Clinigence Holdings is a leading technology-enabled, risk-bearing population health management company. The Company includes an advanced, cloud-based platform that enables healthcare organizations to provide value-based care and population health management. The Clinigence platform aggregates clinical and claims data across multiple settings, information systems and sources to create a holistic view of each patient and provider and virtually unlimited insights into patient populations. The Company also owns and operates a provider network of 141 primary care physicians and over 600 specialists in Los Angeles, California with 22,000 patients and has an investment in an accountable healthcare organization ("ACO") in South Florida with 15,600 Medicare patients through a network of 65 providers. For more information, please visit www.clinigencehealth.com. Information on our website does not comprise a part of this press release.

About Apollo Medical Holdings, Inc.

ApolloMed is a leading physician-centric, technology-powered, risk-bearing healthcare company. Leveraging its proprietary end-to-end technology solutions, ApolloMed operates an integrated healthcare delivery platform that enables providers to successfully participate in value-based care arrangements, thus empowering them to deliver high quality care to patients in a cost-effective manner.

Headquartered in Alhambra, California, ApolloMed's subsidiaries and affiliates include management services organizations (MSOs), affiliated independent practice associations (IPAs), and a Next Generation Accountable Care Organization (NGACO). For more information, please visit www.apollomed.net.

Safe Harbor:

Certain statements and information included in this press release constitute "forward-looking statements" within the meaning of the Federal Private Securities Litigation Act of 1995. When used in this press release, the words or phrases "will likely result," "expected to," "will continue," "anticipated," "estimate," "projected," "intend," "goal," or similar expressions are intended to identify "forward-looking statements" within the meaning of the Private Securities Litigation Reform Act of 1995. Such statements are subject to certain risks, known and unknown, and uncertainties, including but not limited to, economic conditions, dependence on management, dilution to shareholders, lack of capital, changes in laws or regulations, the effects of rapid growth upon the Company and the ability of management to effectively respond to the growth, demand for products and services of the Company, newly developing technologies, its ability to compete, conflicts of interest in related party transactions, regulatory matters, protection of technology, lack of industry standards, the effects of competition, the inability of the Company to obtain or maintain the listing of the post-acquisition company's ordinary shares on Nasdaq following the Merger, and the ability of the Company to obtain additional financing. Such factors could materially adversely affect the Company's financial performance and could cause the Company's actual results for future periods to differ materially from any opinions or statements expressed within this press release.

SOURCE Clinigence Holdings

Related Links

https://www.clinigencehealth.com