Los Angeles-based Memorial Health Services, a non-profit five-hospital healthcare system, sold the hospital to Alhambra, Calf.-based AHMC Healthcare, a for-profit system that operates seven acute-care hospitals in Southern California. This transaction represents HFG’s third financing involving a non-profit to for-profit conversion, according to the release.
In agreement with California Attorney General conditions, AHMC and ARMC will operate ARMC as an acute care hospital and maintain emergency services for the next five years, after June 30, 2009.
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