Apollo Medical Holdings Inc. announed on Tuesday it has signed an agreement with Fresenius Medical Care, the largest dialysis service company in North America, to provide care management for patients with end-stage kidney disease.
Accountable Care Organization, a subsidiary of Glendale-based Apollo, will provide specialized care plans for the patients, who often have multiple conditions and need more coordinated treatment.
“ApolloMed has been delivering high-quality care at an efficient cost since 2001,” said Dr. Warren Hosseinion, chief executive of Apollo, in a statement. “Our growing ACO subsidiary is a valuable next step in maturing from a hospitalist business into a physician-driven integrated healthcare delivery company.”
Fresenius, based in Bad Homburg, Germany, owns 2,100 dialysis clinics in the U.S., Canada and Mexico. It trades on the New York Stock Exchange. Apollo’s primary business is in providing care to hospital patients, through specialized hospitalist medical practices.
Apollo shares gained 1 cent, or 2 percent, to close at 53 cents in over-the-counter trading on Tuesday.