Adventist Health System, which is the parent company of Florida Hospital, signed an agreement to buy the 120-bed Bayfront Health Dade City Hospital, according to a news release from Adventist Health System.
The deal is expected to close in early 2018.
Details on the sales price weren’t disclosed.
The sale will include the hospital, at 13100 Fort King Road, as well as physician clinic operations and outpatient services.
“Finding a partner to allow a seamless medical care experience for our patients is important,” said Linda Stockton, in the news release. “Florida Hospital can bring their experience to build on our history of service and success.”
Bayfront is owned by Community Health Systems.
The sale is the “best plan for the future of Bayfront Health Dade City, according to the news release.
“Bayfront Health is a valuable asset to Dade City and its residents, and we want to continue the long history of providing essential care in that facility,” Mike Schultz, chief executive officer of the Adventist Health System West Florida Division, said in the release.
In recent years, Community Health Systems has struggled financially, and has been selling its hospitals.
A new release from Community Health System issued in November previewed “additional planned divestures,” based on $110 million loss in the third quarter of 2017. That was an increase over losses last year.
According to a news release, Bayfront Health in Dade City was one of those divestures.
About $40 million in losses for 2017 resulted from complete or partial shutdowns of some hospitals in Texas and Florida during Hurricanes Harvey and Irma, according to the company press release.
Published December 20, 2017
