Apollo Medical Holdings, Inc. and Integrated Healthcare Holdings, Inc. Sign Hospital ACO Participation Agreement with ApolloMed ACO
Sep 16 13
Apollo Medical Holdings, Inc. announced that Integrated Healthcare Holdings, Inc. has signed a hospital ACO (Accountable Care Organization) participation agreement with ApolloMed ACO in Orange County, California. Under the terms of the agreement, ApolloMed and IHHI will partner to provide ACO patients with high quality care focused on achieving better outcomes at lower costs. ApolloMed will also work with IHHI aligned providers to share clinical data, manage high-risk patients, coordinate care across each patient's full care continuum and to establish quality benchmarks for the delivery of highly attentive care.
Integrated Healthcare Holdings Inc., Wmc-A Inc., Wmc-Sa Inc., Chapman Medical Center, Inc. and Coastal Communities Hospital Inc. Enter into an Amendment Credit and Security Agreement and Limited Waiver
Mar 29 13
On March 25, 2013, Integrated Healthcare Holdings Inc. (IHHI) and its subsidiaries, WMC-A Inc., WMC-SA Inc., Chapman Medical Center Inc. and Coastal Communities Hospital Inc. (together with IHHI, the Company), entered into Amendment No. 5 to Credit and Security Agreement and Limited Waiver (the Revolving Loan Amendment), which amends the Credit and Security Agreement, dated as of August 30, 2010, as amended (the Revolving Loan Agreement), with MidCap Funding IV, LLC, as assigned to it from MidCap Financial, LLC, as administrative agent and a lender. Revolving Loan Amendment provides an increase in the Revolving Loan Commitment amount from $30,000,000 to $35,000,000. The Applicable Margin was changed: (a) from 3.00% to 2.25% with respect to Revolving Loans bearing interest upon the Base Rate and (b) from 5.00% to 4.25% for all other Revolving Loans and Obligations. The Commitment Expiry Date was extended to March 25, 2016. certain modifications were made to the definitions of Permitted Indebtedness and Prepayment Fee and the lockbox requirements. and the Company was granted a waiver of certain prior Events of Default or Defaults under the Revolving Loan Agreement and a waiver of the requirement to comply with the Fixed Charge Coverage Ratio covenant for the Defined Period ending March 31, 2013. Pursuant to that certain Credit and Security Agreement dated as of August 30, 2010 by and among Borrowers, other borrowers party thereto, Agent and Lenders, as amended by that certain Amendment No. 1 to Credit and Security Agreement dated as of October 29, 2010, that certain Amendment No. 2 to Credit and Security Agreement dated as of June 8, 2012, that certain Amendment No. 3 to Credit and Security Agreement dated as of August 1, 2012, that certain Amendment No. 4 to Credit and Security Agreement and Limited Consent dated as of February 7, 2013, and as otherwise modified to the date hereof (as so amended and modified, the “Credit Agreement”), Agent and Lenders agreed to make available to Borrowers a revolving credit facility in the initial principal amount of up to $40,000,000, as of the Closing Date. Pursuant to that certain Amendment No. 1 to Credit and Security Agreement, and in accordance with Section 2.1 of the Credit Agreement in effect prior to such amendment, Borrowers, Agent and Lenders amended the Credit Agreement to increase the Revolving Loan Commitment from $40,000,000 to $45,000,000. In accordance with Section 2.1(b)(iii)(B) of the Credit Agreement, as amended, Borrowers elected to permanently reduce the Revolving Loan Commitment on January 1, 2011, from $45,000,000 to $40,000,000, on January 18, 2011, from $40,000,000 to $30,000,000, on March 18, 2011, from $30,000,000 to $20,000,000, and on June 8, 2012, from $20,000,000 to $14,000,000. Pursuant to that certain Amendment No. 3 to Credit and Security Agreement, Borrowers, Agent and Lenders amended the Credit Agreement to increase the Revolving Loan Commitment from $14,000,000 to $30,000,000.