Greatwest Hospitals Inc., which only three weeks ago said it wanted to get out of the hospital business to concentrate on expanding its health maintenance organizations, said Thursday that it plans to sell its entire hospital group to American Healthcare Management Inc. of Dallas for about $95 million.
The Santa Ana company's hospital group, which lost $367,000 on revenues of $107 million in fiscal 1984, includes seven Southern California hospitals with 650 licensed beds, a clinic, eight health-service companies and five medical-office buildings.
American Healthcare operates 38 health care facilities in 14 states, including several in Southern California. It has agreed to assume certain Greatwest Hospital obligations, which will be credited against the purchase price of $95 million.
American had previously expressed an interest in buying Greatwest's hospital group, according to Ralph Kuhns, American's senior vice president and treasurer. He said the company had no plans to close any of the Greatwest facilities and that it plans to improve them. In Southern California, American operates skilled nursing facilities in Huntington Park, Monterey Park, Hawthorne, Inglewood, Long Beach and Vista.