Pasco Regional Medical Center in Dade City is now under new ownership after a $7.6 billion buyout of its parent company.
Health Management Associates Inc., the Largo-based company that owns Pasco Regional and 22 other hospitals in Florida, was sold to Community Health Systems Inc., in a deal announced July 30.
Once completed, Community Health Systems will own 25 hospitals in Florida, and 206 nationwide. Before the takeover, Nashville, Tenn.-based Community Health had just two hospitals in Florida, with the closest in Lake Wales.
“We are pleased that this combination will create an even stronger organization for the benefit of our patients, physicians, associates and the communities we serve,” said William J. Schoen, chairman of the board for Health Management, in a release.
The purchase will likely not affect the upcoming name change for the local hospital, which will become Bayfront Health Dade City, according to a Community Health Systems spokeswoman. Tomi Galin referred questions to Health Management spokesman Eric Waller, but added that the acquisition won’t be completed for “several months.”
Waller released a statement about the acquisition that didn’t address any previously announced name changes for the hospital. Instead, he made it clear that no immediate changes were planned for the Dade City hospital in light of the purchase.
“The combination of Health Management and CHS is not expected to impact local hospital operations,” he said. “Our deep commitment to providing the highest quality patient care will not change.”
Pasco Regional announced the name change early last month, before the deal to purchase the hospital chain was finalized.
The Dade City hospital has been through several name changes over the years. It was originally founded in 1973 as Community General Hospital, but was renamed Humana Hospital-Pasco in 1982, according to the facility’s website. In 1993, after the Columbia network of hospitals purchased it, the name was changed to Dade City Hospital.
Five years later, the name was changed again to Pasco Community Hospital, and then was renamed Pasco Regional Medical Center not long after Health Management purchased the hospital in 2000 for $17 million.
The 120-bed acute care hospital is at 13100 Fort King Road in Dade City.