American Medical International has completed its planned...

American Medical International has completed its planned sale of 36 hospitals to a new company established under an AMI-sponsored employee stock ownership plan. Beverly Hills-based AMI sold the hospitals to Epic Healthcare Group of Dallas for $500 million in cash, $230 million preferred stock and $100 million in notes and assumed debt. The divestiture leaves AMI with 70 hospitals and nine psychiatric facilities in 15 states and six foreign countries. Epic’s hospitals are in 10 states.