Apollo Medical Holdings, Inc. Announces Appointment Of Mitchell R. Creem To
Its Board of Directors
GLENDALE, Calif., Oct. 22, 2012
GLENDALE, Calif., Oct. 22, 2012 /PRNewswire/ -- Apollo Medical Holdings, Inc.
("ApolloMed") (OTCQB-AMEH), a leading provider of hospitalist, critical care,
ACO and multi-disciplinary care management services in Central and Southern
California, today announced the appointment of Mitchell R. Creem to its Board
of Directors as well as Chairman of the Audit Committee.
Mr. Creem is a seasoned healthcare executive whose career spans over 25
years. He is widely known for his experience in revitalizing academic medical
centers and he has influenced all aspects of the healthcare industry,
including hospital, research and faculty group practice management.
Mr. Creem is currently the President of The Bridgewater Healthcare Group,
which provides hospitals and health networks with consulting services through
an integrated business approach to sustainability, covering all aspects of
financial and operational management.
Prior to this, from June 2008 to January 2012, he was the CEO of USC
University Hospital and USC Norris Cancer Hospital. He led the ownership
transition from Tenet Healthcare Corporation to the university, including the
creation of a new culture of collaboration and patient service. In three
years, patient revenues grew by 50%, from $400 million to $600 million,
patient volumes expanded by 10% a year, employee retention improved from 76%
to 96% and patient satisfaction improved by 10 percentile points.
From September 2004 to May 2008, Mr. Creem served as the CFO and Associate
Vice Chancellor of UCLA Medical Center. He was responsible for the successful
financial performance of a $2 billion operating budget, including the Geffen
School of Medicine at UCLA, the UCLA Faculty Practice Group, the UCLA Hospital
System comprising nearly 1000 beds, including UCLA Medical Center, Santa
Monica UCLA Medical Center, Mattel Children's Hospital and Resnick
Neuropsychiatric Hospital. At UCLA, he improved the cash position to $80
million and improved profitability by $60 million.
Prior to this, from 2000 to 2004, Mr. Creem served as CFO of Beth Israel
Deaconess Medical Center, a 600-bed Harvard teaching hospital. He was
responsible for a $1 billion operating budget with total assets of $1
billion. He decreased accounts receivables 35 days, reduced long-term debt
$150 million, reduced FTEs per adjusted occupied bed from 6.1 to 4.8 and
reduced costs per adjusted patient day 20%. He played a key role in bringing
the medical center from a $70 million loss in FY2001 to a $30 million profit
From 1996 to 2000, he served as CFO of Tufts Medical Center, a 415-bed
hospital in Boston affiliated with Tufts University. Through focused,
diligent execution, the turnaround plan at Tufts resulted in a bottom-line
improvement of $30 million.
Mr. Creem served as an Administrator at Massachusetts General Hospital, a
907-bed Harvard teaching hospital from 1989 to 1995, where he helped launch
two for-profit subsidiaries in international telemedicine services and
hardware/software sales. Prior to this, he was a senior manager at
PricewaterhouseCoopers from 1983 to 1989 and worked in its Healthcare Practice
Mr. Creem received a Bachelor of Science in Accounting and Business
Administration from Boston University and a Masters in Hospital Administration
from Duke University. He is an Adjunct Instructor at the USC Price School of
"We are honored to have Mitch join our Board," stated Warren Hosseinion, M.D.,
Chief Executive Officer of Apollo Medical Holdings, Inc. "We look forward to
his wisdom and experience, not only as an expert in financial and accounting
systems and reporting, but also in the specialized needs of healthcare
"I am delighted to be a part of the ApolloMed family at this pivotal point in
a rapidly changing healthcare environment," stated Mitchell R. Creem. "I look
forward to working with Warren and his team as he unveils his bold new vision
to be a leader in the delivery of healthcare services."
About Apollo Medical Holdings, Inc.
ApolloMed is a leading provider of integrated medical management services that
improves the efficiency in inpatient care plus multi-disciplinary care
management services targeting inefficiencies in healthcare payer and provider
networks. Our integrated model combines hospitalist medicine, critical care
medicine, 24-hour physician call centers, case management and transition
management that offers to help healthcare organizations engage in performance
payments for utilization efficiency, quality of care objectives and shared
accountability arrangements. ApolloMed ACO was one of only eight ACOs in
California selected to participate in the Medicare Shared Savings Program in
2012 by CMS. ApolloMed is based in Glendale, California.
For more information please contact:
SOURCE Apollo Medical Holdings, Inc.
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