AmeriHealth said it has rescheduled its annual meeting to Sept. 8 so it can clarify several potential deals. The Atlanta-based hospital chain said it has received preliminary proposals from investors interested in buying the company, refinancing its debt or investing in it. Stockholders have filed proxy materials to replace the AmeriHealth board because the company hasn't announced any offers and is in default on a $19 million loan. The company's annual meeting originally was scheduled for May, then postponed until August.
American Healthcare Systems said it will distribute about $6 million in cash to its shareholders from group-purchasing proceeds. Since August 1988, San Diego-based AmHS has returned about $46 million to shareholders. The for-profit corporation is owned by 40 healthcare systems and represents more than 1,000 healthcare facilities with combined annual revenues of about $32 billion.
Picker International said its pre-tax profits shot up 23% to $79.5 million in its fiscal year ended March 31. Total sales rose 7% to $1 billion. Dramatic growth in international sales offset a U.S. market dampened by cost controls and hospital restructuring, the company said. Cleveland-based Picker makes and services equipment for magnetic resonance imaging, computed tomography, nuclear medicine, ultrasound and X-ray. A subsidiary of London-based GEC, Picker didn't release further financial information.
Meditrust, the Needham Heights, Mass., real estate investment trust, has bolstered its financial capabilities, one of several REITs to have done so recently. Meditrust increased its unsecured revolving credit facility to $177 million. The three-year credit line was provided by a consortium of nine banks, led by Fleet Bank, N.A., and First Union. Meanwhile, Denver-based American Health Properties increased its credit facility to $100 million. Wells Fargo Bank and five other banks provide the credit line. In addition, National Health Investors in Murfreesboro, Tenn., said it obtained an unsecured, $116 million credit facility for acquisitions and mortgages.
Medaphis Corp. said it acquired the outstanding capital stock of Medical Management Resources for $11 million in cash. Medical Management Resources is a private, Gibbsboro, N.J.-based company that provides billing and accounts receivable management services to physicians. Atlanta-based Medaphis financed the purchase with cash and borrowing under its credit facility. Medical Management Resources had about $6.7 million in revenues in 1993. Medaphis provides business management services to hospitals and physicians nationwide.