American Medical International will spend up to...

American Medical International will spend up to $300 million to retire long-term debt and $150 million to buy back company stock, the Beverly Hills-based hospital chain said. AMI has about $1.8 billion in long-term debt and 80 million shares outstanding. AMI is purchasing its stock to enhance the value of the remaining shares outstanding, a company spokesman said. In another development, Miami doctor M. Lee Pearce, a major AMI stockholder who recently helped to force the resignation of the company’s former chairman, reportedly bought an additional 1 million shares, raising his stake to about 8.8%.