The population health management subsidiary of Apollo Medical Holdings Inc., Network Medical Management, has reached an agreement with a Pasadena-based clinic network that will add the data of more than 100,000 patients to Network Medical’s platform.
Shares of Apollo Medical jumped more than 10 percent after the news broke on Monday. The development brings the total number of patients whose information is managed by Network Medical to 1 million, according to Apollo Medical. The company’s operations now extend into 11 counties in California.
The agreement with Golden Shore is Apollo Medical’s second such announcement since the start of the year. The company said early last month that it had added 160,000 patients to Network Medical’s management platform through an agreement with Accountable Health Care IPA, a Signal Hill-based physicians association.
Shares of Apollo Medical (AMEH) rose $1.85, or 10.4 percent, on Monday to close at $19.70 on the Nasdaq. Other Valley biotechs saw declines as the overall market fell.