Orlando Health received approval from the St. Petersburg City Council on a 50-year agreement to lease the land on which Bayfront Health is located. City approval of the land lease was required in order for Orlando Health to move forward with its acquisition of the hospital. In June, the healthcare organization signed a definitive agreement with Community Health Systems (CHS) to purchase Bayfront Health St. Petersburg.
“This is an exciting time for the St. Petersburg community, Bayfront and Orlando Health,” said David Strong, president and CEO, Orlando Health. “Our acquisition of Bayfront Health will make Orlando Health stronger.”
The acquisition includes the 480-bed Bayfront Health hospital, which is a level II trauma and tertiary care center, and a comprehensive inpatient rehabilitation unit located on its campus. The agreement also includes an ambulatory surgery center; Convenient Care Clinics, multiple physician practices; an imaging center; a wound care and hyperbaric center; and a free-standing emergency department located in Pinellas Park.
“The Bayfront Health St. Petersburg’s name holds great value in its community and will be maintained,” added Mr. Strong. “The hospital will continue to offer its current services to the community, and we will actively listen to the team members, physicians and the community regarding what additional services need to be added.”
The agreement is expected to close September 30, 2020, subject to regulatory approvals and closing conditions.
Orlando Health is a not-for-profit healthcare organization with $6.2 billion of assets under management. The system spans nine Florida counties with nearly 450 locations that include 13 wholly-owned hospitals and emergency departments; rehabilitation services, cancer centers, heart institutes, imaging and laboratory services, wound care centers, more than 300 physician offices for adults and pediatrics, and 11 urgent care centers in partnership with CareSpot Urgent Care. In FY18, Orlando Health served approximately 167,000 inpatients, more than 2.7 million outpatients, and more than 20,000 international patients. The organization is home to the area’s only Level One Trauma Centers for adults and pediatrics, and is a statutory teaching hospital system that offers both specialty and community hospitals. Nearly 3,600 physicians have privileges across the system, which is also one of the area’s largest employers with nearly 20,500 employees. Additionally, Orlando Health provides more than $620 million in total value to the community in the form of charity care, community benefit programs and services, community building activities and more. Additional information can be found at www.orlandohealth.com.
