Affiliated Will Unveil Debt-Revamping Plan
Affiliated Medical Enterprises of Orange, which borrowed heavily to complete a $100-million acquisition of four hospitals in 1988, confirmed Friday that it will present creditors next week with a plan to restructure its debts.
When it purchased the hospitals from American Health Group International in Kirkland, Wash., Affiliated refinanced a hospital it owned in Ojai and arranged $68 million in senior debt financing. It said the proposed restructuring would involve refinancing the three-year loan it used in the acquisition and would also pay outstanding bills to vendors.
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