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Apollo Medical Holdings acquires Accountable Health Care

Apollo Medical Holdings Inc. said its affiliates acquired all outstanding shares of privately-held Accountable Health Care Ipa.

Apollo's affiliates involved in the acquisition include Allied Physicians of California IPA, APC-LSMA Designated Shareholder Medical Corporation and Allied Pacific of California, or APC. APC already owns 25% of Accountable Health Care's outstanding shares.

APC-LSMA acquired all the shares held by Accountable Health Care CEO, George Jayatilaka, comprising 75% of outstanding shares of the company, for $7.25 million.

The acquisition was in settlement of a dispute with Jayatilaka and Accountable Health Care.

Alhambra, Calif.-based Apollo Medical is an integrated healthcare delivery and management company that provides medical care services.