Florida hospitals to be sold in $265M deal

AdventHealth has reached a definitive agreement to acquire two Florida hospitals and associated clinics from Community Health Systems, Inc.

AdventHealth has reached a deal to acquire ShorePoint Health Port Charlotte and ShorePoint Health Punta Gorda from Community Health Systems, Inc.

In the deal, AdventHealth would acquire ShorePoint Health Port Charlotte and some assets of ShorePoint Health Punta Gorda, the organizations said. CHS says the facilities will be sold for $265 million in cash. CHS has been selling some of the hospitals in its footprint in recent years.

The systems are hoping to complete the deal in the first quarter of 2025, but regulators must sign off on the transaction. Under the deal, AdventHealth would acquire ShorePoint Health Emergency Department in Cape Coral, along with other physician clinics and outpatient locations.

Terry Shaw, president and CEO of AdventHealth, spoke enthusiastically about the acquisition of the facilities.

“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,” Shaw said in a statement.

ShorePoint Health Punta Gorda suffered damage from both Hurricane Helene and Hurricane Milton. The hospital is closed indefinitely. Patients have been directed to the Port Charlotte hospital.

The Port Charlotte hospital is a 254-bed facility. Punta Gorda hospital offers 208 beds.

The systems said they would work to ensure a smooth transition for patients and employees. Andy Romine, CEO for ShorePoint Health, said he’s looking forward to joining AdventHealth.

“Our ShorePoint family of providers, with its skilled physicians and compassionate employees, is a resource for safe, quality care in our communities, and becoming part of AdventHealth creates exciting possibilities for the future,” Romine said in a statement.

Headquartered in Altamonte Springs, Florida, AdventHealth operates 54 hospitals in more than nine states. Earlier this year, AdventHealth recently reached an agreement to acquire St. Luke's Hospital in Columbus, North Carolina.

CHS operates 69 hospitals and more than 1,000 healthcare locations in 15 states. The for-profit system based in Franklin, Tennessee has been reducing the size of its footprint in recent years.

Earlier this month, CHS reached an agreement with Memorial Health System in Mississippi to assume full ownership of Merit Health Biloxi, a 153-bed hospital, along with a medical office building, clinics and two imaging centers. Based in Gulfport, Mississippi, Memorial Health System has had a 50% ownership stake in Merit Health.

In August, CHS finalized the sale of Tennova Healthcare-Cleveland, a 351-bed hospital in Cleveland, Tenn. to Hamilton Health Care System, Inc. Hamilton acquired the facility in a $160 million transaction.

CHS recently announced a deal to sell three hospitals in northeastern Pennsylvania to WoodBridge Healthcare, Inc. in a $120 million transaction. In that transaction, WoodBridge is purchasing Wilkes-Barre General Hospital in Wilkes-Barre, a 369-bed facility; Regional Hospital of Scranton, a 186-bed facility; and Moses Taylor Hospital in Scranton, with 122 beds.

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