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Acquisition Holdings Subsidiary I LLC history
Acquisition Holdings Subsidiary I LLC company history timeline
In June 1960, when a 26-bed client hospital was about to close its doors, Medlabs bought it.
In 1960 Appel also took Medlabs public and changed its name to American Laboratories.
In 1970 the company, in the fastest growing industry in the United States, had most of its operations based in the most rapidly developing parts of the country.
The sacrifice of short-term profits for long-term growth began to bear fruit in 1976, when profits rose by 65%. In the meantime, Royce Diener, a former investment banker, had succeeded Appel as company president.
The following month AMI's growth was challenged when the Federal Trade Commission charged, and later ruled, that the company's 1979 purchase of a Luis Obispo, California, hospital created a monopoly of the hospital market in that county.
In 1983 the federal government had initiated major changes in the industry with a new Medicare and Medicaid reimbursement system.
In 1988, the company sold 104 hospitals and continued to cut back on corporate overhead and concentrate on dependable specialities such as obstetrics.
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