Apollo Medical Holdings Inc. has changed the end of its fiscal year from March 31 to Dec. 31 on account of its merger with Network Medical Management Inc., the Glendale health management company announced Monday.
The change was made to accommodate the financial reporting schedule of Network Medical Management, with which Apollo Medical merged at the start of December. The resulting company holds contracts with more than 4,000 physicians to coordinate care and provide medical management services for 700,000 patients.
The adjustment shifts the beginning of Apollo Medical’s fiscal year to Jan. 1, and the end of the first fiscal quarter to March 31. The firm will report the financial results of the combined entities’ operations for the fiscal year ended Dec. 31 on or before April 2, according to a company statement.
Shares of Apollo Medical fell 25 cents, or around 1.3 percent, on Monday to close at $19.50 on the Nasdaq.