A significant business transaction in the healthcare industry has occurred in Charlotte County, where two hospital facilities are set to change ownership.
AdventHealth, a nonprofit healthcare organization based in Altamonte Springs, has reached an agreement to acquire ShorePoint Health Port Charlotte and certain assets of ShorePoint Health Punta Gorda. The seller, Community Health Systems, is a publicly traded entity headquartered in Tennessee. The deal is valued at $265 million. This transaction includes not just the hospitals but also related businesses such as physician clinics and outpatient services, as well as the ShorePoint Health Emergency Department in Cape Coral.
ShorePoint Health Port Charlotte, which began operations in 1962, boasts a capacity of 254 beds. In contrast, ShorePoint Health Punta Gorda, with a history dating back to 1947, has currently suspended its inpatient operations due to damages caused by Hurricanes Helene and Milton. Despite these challenges, both facilities have been pivotal in serving the healthcare needs of their communities over the decades.
The acquisition is expected to be finalized by the end of the first quarter of the following year, pending regulatory approvals. In this interim period, both AdventHealth and Community Health Systems have emphasized their commitment to ensuring a seamless transition for staff, medical professionals, and patients. “We are excited about the opportunity to bring whole-person care to these communities and look forward to partnering with the dedicated team members and physicians to meet the growing health care needs of Southwest Florida,” stated Terry Shaw, President and CEO of AdventHealth.
Historically, both hospitals have changed hands multiple times. Originally named Charlotte Hospital, ShorePoint Health Punta Gorda was once owned by the Seventh-day Adventist Church during the 1970s. The ShorePoint brand also had a presence in south Sarasota County, with ShorePoint Health Venice, previously known as Venice Regional Bayfront, until its closure in late 2022.
This deal closely follows the news of another significant acquisition in the region, where HCA Healthcare is set to purchase Lehigh Regional Medical Center in Lee County from Prime Healthcare Services. These developments indicate a trend of consolidation within the healthcare sector in Southwest Florida.
The acquisition of Charlotte County hospitals by AdventHealth signals a potential shift in the healthcare landscape of Southwest Florida, with implications for local communities and healthcare delivery.
Source: BusinessObserverFL
