AMB Enters New Year With New Capital.Health/Medical Writers MILWAUKEE--(BW HealthWire)--March 1, 2001 American American, river, 30 mi (48 km) long, rising in N central Calif. in the Sierra Nevada and flowing SW into the Sacramento River at Sacramento. The discovery of gold at Sutter's Mill (see Sutter, John Augustus) along the river in 1848 led to the California gold rush of Medical Buildings ("AMB AMB Ambient AMB Ambassador AMB Amber AMB Ambulance AMB Associação Médica Brasileira (Brazil) AMB Ambulatory AMB Advanced Memory Buffer (FBDIMM control unit on DRAM) ") announced today that the company has secured additional equity capital backing in the $25-$50 million+ range, which will position AMB as one of the nation's leaders in the growing market for off balance sheet development of outpatient outpatient /out·pa·tient/ (-pa-shent) a patient who comes to the hospital, clinic, or dispensary for diagnosis and/or treatment but does not occupy a bed. out·pa·tient n. and medical office facilities. Jack Amormino, AMB's president and CEO (1) (Chief Executive Officer) The highest individual in command of an organization. Typically the president of the company, the CEO reports to the Chairman of the Board. since 1991, stated that the company expects the added capital resources to significantly increase project revenues for the privately held firm. Amormino further stated that he expects company-owned projects to represent 50% or more of his firm's revenue within the next three to five years. Fee-for-service fee-for-ser·vice adj. Charging a fee for each service performed. , design-build and program management business currently accounts for approximately 80% of the firm's revenues. "When our clients wish to conserve cash and keep the property off the organization's balance sheet," Amormino commented, "they will have the confidence in knowing that they can turn to us for affordable and secure funding and ownership structures designed for their precise needs. "In 2000, while developing over $100 million in healthcare projects from coast to coast, we were successful in lining up equity capital to fuel the growth of our facility development program, which in turn has continued to attract major funding relationships and resources for new projects and property acquisitions," added Christopher M. Bowen, senior vice president and development partner. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. AMB officials, the partners determined three years ago that to continue as a leader in the industry they needed to focus on two primary objectives: 1) design and implement a program to raise significant equity capital, $50 million or more, to provide each client with a full range of funding and ownership options; and 2) continue to invest in AMB's ability to develop ambulatory surgery ambulatory surgery n. Surgery performed on a person who is admitted to and discharged from a hospital on the same day. ambulatory surgery, n and other outpatient care centers from concept to management. "We stayed on course," Amormino explained, "and what we now have is the nation's most comprehensive real estate development program designed for healthcare executives. In tandem Adv. 1. in tandem - one behind the other; "ride tandem on a bicycle built for two"; "riding horses down the path in tandem" tandem with our design and development services, we can provide financing and ownership according to each client's needs - all under one roof and on a fast track basis. That is a very powerful combination in today's rapidly changing world of healthcare delivery." Founded in 1965, American Medical Buildings has developed over 350 healthcare facilities in 44 states. |
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