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Apollo Medical completes Network Medical merger

Apollo Medical Holdings Inc. completed its merger with Network Medical Management Inc., a healthcare management services organization.

Under the deal, Glendale, Calif.-based Apollo Medical's merger subsidiary Apollo Acquisition Corp. merged with Network Medical, with the latter becoming the surviving entity and a wholly owned subsidiary of Apollo Medical.

Additionally, Network Medical shareholders who did not dissent from the merger received rights for about 30,071,197 Apollo Medical common shares. They also received warrants to buy 850,000 shares for $11 apiece and 900,000 shares for $10 apiece.

Apollo Medical said it started trading on the Nasdaq Capital Market Dec. 8 under the symbol AMEH, the same it uses on the OTC Pink.

Further, Suresh Nihalani and Edward Schreck resigned from Apollo Medical's board.