All American Medical Group (AAMG) to merge with ApolloMed from Southern California in 2023

(SAN FRANCISCO) For the past six years since it was founded, All American Medical Group (AAMG) has been actively taking the lead to provide healthcare service and information in language for the Chinese community. Their service has been even more significant in the midst of the COVID pandemic that started in 2020.

The latest news announced this week that AAMG has reached an agreement to be acquired by Apollo Medical Holdings, Inc. (ApolloMed), a healthcare giant based in Southern California.

Dr. Joseph Woo, President of AAMG, confirmed the news with Wind Newspaper. "We are doing the official announcement in mid October," said Dr. Woo. Chinese American physicians nationwide will gather in San Francisco to have a bi-annual conference in mid October to strengthen the network and collaboration in healthcare service for the community.

ApolloMed, headquartered in Alhambra, California, announced the acquisition in a statement this week. "ApolloMed and its affiliated California medical corporation have entered into a definitive agreement to acquire 100% of the fully diluted capitalization of AAMG and For Your Benefit, Inc. (FYB), as well as certain related managed care assets."

ApolloMed anticipated the transactions of acquisition would be done by the end of the first quarter of 2023. It would be subjected to regulatory approval and the transactions would be funded through a combination of cash on hand and stock.

According to the information released by ApolloMed, AAMG is a primary and specialty care physicians' group focused on providing high-quality, culturally competent care to local communities in the San Francisco Bay Area. FYB is affiliated with AAMG and is licensed by the California Department of Managed Health Care as a full-service health plan under the Knox-Keene Health Care Service Plan Act of 1975.

Both the AAMG and FYB will bring over a total of 15,000 Medicare Advantage, Commercial, and Medicaid patients in San Francisco and San Mateo Counties to the ApolloMed.

AAMG and FYB followed the recent successful acquisitions of Jade Health Care Medical Group and Access Primary Care Medical Group by ApolloMed earlier this year.

"With the addition of AAMG and FYB to the ApolloMed family, ApolloMed will serve over 30,000 members in the San Francisco Bay Area," ApolloMed said in a statement.

Dr. Man-Kit Leung, Chairman of AAMG, added in the statement. "We are thrilled to join ApolloMed and its extensive end-to-end care delivery network. ApolloMed is a leader in empowering providers in the delivery of value-based care, and our physicians look forward to onboarding onto the ApolloMed platform, which will bring numerous advantages in care management and patient data analysis."

"We believe joining the ApolloMed family will enable our providers to put greater focus on doing what they love—serving their patients—while allowing them to continue running their independent practices," Leung said.

Dr. Edmund Tsoi, CEO and Chairman of FYB, echoed, "We look forward to becoming a part of the ApolloMed family with whom our physicians will join forces to continue striving to provide superior patient experience and clinical outcomes for the local community."

"FYB's full-service restricted Knox-Keene license opens up a number of potential opportunities for our combined company, allowing us to assume global risk for our members by managing their full spectrum of care. I am excited to see this partnership take off and transform how healthcare is delivered nationwide." said Dr. Tsoi

ApolloMed is one of the largest healthcare management companies nationwide. ApolloMed has acquired a number of the smaller healthcare companies in recent years from Southern California to Northern California and New York.

In addition to the medical groups, ApolloMed also acquired clinical laboratories and other related entities to expand their services in the medical field. In accordance with the information released by ApolloMed, with the affiliated physician groups and consolidated entities, the company serves over 1.1 million patients in total across 15 states and territories.

Chinese Hospital, CCHP Health Plan, and Chinese Community Health Care Association (CCHCA) announced their reunion on August 19 this year after the 7-year legal battles and disputes.

Jade Medical Group and AAMG were founded six years ago under the dispute by different groups of Chinese American physicians who used to be working together for three entities.

AAMG President Dr. Woo said the merger of AAMG with ApolloMed was not related to the reunion. "But we all believe that the Chinese Hospital is important to our community and its care. We will continue to provide support which will also depend on the hospital's willingness to partner and contract."

"Certainly the merger of Jade and Apollo influenced our decision to also partner, but we have long felt that the reunification of community doctors is overdue. However, the implications are larger than that. This partnership is historic in that it unites Asian doctors in both Northern and Southern California and brings more voice in our ability to advocate for the Chinese patient," said Dr. Woo.

The patients and members will not find the change of the service by AAMG. "AAMG will keep its name in the near future. Over time we expect increased cooperation between the three San Francisco/San Mateo County medical groups under the Apollo umbrella and eventually to combine operations," Dr. Woo said, "The final name, of course, will be up to Apollo."

"Over time, I expect this larger group will allow us to provide better, more efficient care to our patients and a greater choice of specialists. Also, we hope to be more attractive in recruiting young doctors who want to serve this great community." Dr. Woo believed that the merger would benefit the patients and the community.