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San Gabriel Valley Digest

Glendora : Physicians Buy AMI-Glendora Hospital

November 09, 1989

A group of doctors signed an agreement to purchase AMI-Glendora Community Hospital from Beverly Hills-based American Medical International Inc. on Tuesday night, saving the hospital from imminent closure.

The hospital's 350 employees had been notified in September that the facility would close Nov. 6 if AMI could not find a buyer. When a deal seemed likely, the deadline was extended.

"We're grateful that the hospital is staying open," said Bill Raymond, chairman of the board. "It's an excellent thing for the community." Glencom, a group representing at least 50 doctors, mostly on the hospital's staff, expects to close escrow Jan. 7, Raymond said.

Glencom had agreed to take over the 165-bed facility in the spring but was unable to finance the purchase then, AMI spokeswoman Suzanne Hovdey said. She would not disclose the selling price.

AMI then agreed to sell the hospital to staff physician Dr. Jesse Umali, but when that deal fell through last week, AMI resumed negotiations with Glencom, she said.

Umali, who made a down payment of $100,000, said he expected staff doctors to support his bid but could not finance the deal when they did not. He would have paid $8.5 million, he said.

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