American Advanced Management, a Modesto-based company, made a bid to take over the bankrupt Madera Community Hospital after other suitors backed out. Despite concerns about AAM’s commitment and allegations of dishonesty, the state approved their plan and provided a $57 million loan to help reopen the hospital. AAM plans to pay creditors and reopen the hospital by late summer, focusing on operational efficiency and quality care. Critics fear AAM may prioritize long-term care over acute care, but the company reassures that they are committed to providing necessary services. AAM has faced legal issues in the past but is optimistic about future profitability and growth.
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After Uphill Battle, Company Is Poised for Takeover of Bankrupt California Hospital
