American Medical International Inc

As Congress considers how to reshape the country's health care system, South Bay Hospital is looking to improve its ties to the large physician and insurer networks that are expected to flourish under the medical reform effort. At its meeting tonight, the board of the Beach Cities Health District, the public agency that owns the 203-bed hospital in Redondo Beach, is scheduled to pick a consultant to study how the hospital can join more networks.

American Medical International Inc. reported Monday that earnings for the second quarter ended Feb. 29 were $24.1 million, compared to $28 million for the comparable period of fiscal 1987. Net revenue for the period totaled $719.4 million, an increase of 8.1% over net revenue of $665.5 million for the second quarter of fiscal 1987. Total first-half earnings were $63.3 million, compared to $56.6 million in the year-ago period. Second-quarter and first-half results included a gain of $20.

American Medical International Inc. said Monday it has agreed to sell the new 177-bed Irvine Medical Center for $75 million to a Los Angeles investment company and then to lease back the facility, which it will continue to operate. AMI, the Dallas-based hospital chain that developed Irvine Medical Center, said it has sold the center's buildings and the 25 acres on which it sits to American Health Properties, a real-estate investment trust, in order to raise funds to pay its large corporate debt.

American Medical Wins $12-Million Judgment: A federal jury in Los Angeles awarded American Medical International, a Dallas-based hospital company, $12 million in a bad-faith lawsuit against National Union Fire Insurance Co., according to lawyers for AMI. The lawsuit stemmed from a 1991 case in which AMI had paid $16 million to settle a legal dispute with a major stockholder.

Almost a year after it opened, the Irvine Medical Center still has more empty beds than it would like and more troubles than it bargained on. The center's woes have prompted layoffs and stirred rumors in the medical community that it might be up for sale. But hospital officials, while acknowledging that the center has problems, angrily deny that there are plans to put it on the auction block.

American Medical International Inc. said Monday it has agreed to sell the new 177-bed Irvine Medical Center for $75 million to a Los Angeles investment company and then to lease back the facility, which it will continue to operate. AMI, the Dallas-based hospital chain that developed Irvine Medical Center, said it has sold the center's buildings and the 25 acres on which it sits to American Health Properties, a real-estate investment trust, in order to raise funds to pay its large corporate debt.

After five years of planning, American Medical International Inc. is about to open the first hospital in the city of Irvine. If the fire marshal and state licensing authorities give the final approvals, Irvine Medical Center at Sand Canyon Avenue and Alton Parkway will start accepting patients on June 11. At the helm of Irvine Medical as its president will be John C. Gaffney, who has overseen construction of the 177-bed facility.

IMA Holdings Corp. said today it has reached a reduced $1.7-billion merger deal of $26.50 a share with the American Medical International Inc. hospital chain. IMA, an investment group that includes Chicago's Pritzker family and First Boston Corp., will be buying a chain that has 54 U.S. hospitals and 24 overseas. It will also assume about $1.3 billion in debt. IMA originally agreed in July to pay $1.

Less than a year after it was opened, the nation's first hospital dedicated exclusively to the treatment of AIDS will be closed by its Beverly Hills owner because of losses exceeding $7 million. The bold gamble to run a for-profit hospital to treat patients with acquired immune deficiency syndrome failed to pay off for owner American Medical International Inc. because too many poor patients sought care at the 120-bed facility, located 20 miles from downtown Houston, officials said.