Memorial Health Services Announces Approval of Sale of Anaheim Memorial Medical Center to AHMC Healthcare Inc.June 10, 2009
Anaheim, CA—The California Attorney General’s Office announced that it has approved the sale of the 223-bed Anaheim Memorial Medical Center to AHMC Healthcare Inc.
The decision to approve the sale follows an in-depth review by the state Attorney General, which has jurisdiction over the sale of nonprofit hospitals in California. The review included an independent Health Impact Report, a public hearing and consultations with an independent expert and concerned parties.
AHMC Healthcare agreed to comply with all conditions of the sale set forth by the Attorney General. These include maintaining current levels of hospital services while investing additional capital to improve Anaheim Memorial’s infrastructure and technology.
“Our decision to select AHMC Healthcare was based on the buyer meeting a number of critical requirements,” said Barry Arbuckle, Ph.D., President and CEO of Memorial Health Services, which has owned and operated Anaheim Memorial. “These included a long-term commitment to partner with Anaheim Memorial’s physicians and staff in providing quality, acute care services to Anaheim and the surrounding communities; offering round-the-clock emergency services; continuing to serve Medicare, MediCal and charity care patients; and having the ability to provide sufficient capital resources to continue the hospital’s provision of high quality care.”
AHMC Healthcare Inc., formed in 2004, is one of the newest and largest regionally owned hospital systems in Southern California. AHMC Healthcare Inc. and its affiliated hospitals form a regional network of hospitals consisting of more than 1,000 beds. AHMC Healthcare Inc.’s family of hospitals includes Garfield Medical Center, Monterey Park Hospital, Whittier Hospital Medical Center and Greater El Monte Community Hospital. The corporation is also affiliated with San Gabriel Valley Medical Center and Alhambra Hospital Medical Center.
“AHMC is committed to helping ensure the future of Anaheim Memorial Medical Center as part of a strong, regionally owned system that serves the health care needs of the community,” said Jonathan Wu, M.D., Chairman of AHMC Healthcare Inc. “As a physician who has lived and practiced in Southern California for more than 20 years, I know the value of preserving the high standards of quality health care practiced at Anaheim Memorial. Anaheim Memorial is a natural fit for our other hospitals in Southern California. We share the same strong commitment to meeting the health care needs of our communities by providing a wide range of high-quality medical services.”
The ownership transfer is projected to take place in the next few weeks.
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