Apollo Medical Holdings Inc. has appointed a top executive of a major strategic investor as a member of its board, the company announced Wednesday.
The Glendale doctors group and health management company said Mark Fawcett, treasurer of Fresenius Medical Care, will serve as an independent director. In 2014, Fresenius, a chain of dialysis clinics in Waltham, Mass., invested up to $12 million in ApolloMed. The investment followed a May deal in which ApolloMed agreed to provide care management for patients with end-stage kidney disease treated at Fresenius clinics.
Fawcett joined Fresenius in 2002. As treasurer, he raises capital in the bank, bond and equity-linked markets, and participates in mergers and acquisition deals. Prior to Fresenius, he was director in corporate finance at BankBoston.
“We welcome Mark to the leadership team and thank Fresenius Medical Care for their continued support and partnership,” Gary Augusta, executive chairman of ApolloMed, said in a statement. “Mark further advances the financial and healthcare experience of the ApolloMed board and is another key addition as we add more leadership capabilities to support the company’s growth.”
Shares closed unchanged at $5.50 on the over-the-counter market.