Orlando Health has Acquired Two Hospitals from Community Health Systems
October 14, 2020
Orlando Health, a leading not-for-profit integrated health system providing care across the full spectrum of healthcare services to patients throughout central Florida, has completed the acquisition of both the 480-bed Bayfront Health St. Petersburg and the 84-bed St. Cloud Regional Medical Center from Community Health Systems (“CHS”, NYSE: CYH).
The combination of these two acquisitions continues the expansion of Orlando Health’s footprint throughout central and now, western, Florida and further positions it as a leader in healthcare across the state.
Acquisition of Bayfront Health St. Petersburg
On September 30, 2020, Orlando Health completed the acquisition of Bayfront Health St. Petersburg and its free-standing emergency department in Pinellas Park. This acquisition marks Orlando Health’s entry into the western Florida market.
Acquisition of St. Cloud Regional Medical Center
On June 30, 2020, Orlando Health acquired full ownership of St. Cloud Regional Medical Center. Prior to the transaction, Orlando Health and CHS maintained a joint venture partnership in St. Cloud Regional Medical Center. Since closing, Orlando Health has renamed the hospital Orlando Health St. Cloud Hospital and has fully incorporated it into the organization’s network.
About Orlando Health
Headquartered in central Florida, Orlando Health is recognized around the world for its pediatric and adult Level One Trauma Center, as well as a teaching hospital system with approximately 3,200 beds. With hospitals and emergency departments and nearly 22,000 employees, Orlando Health is one of the largest employers in the region. Orlando Health’s network includes 4,200 physicians with areas of clinical excellence that include orthopedics, heart and vascular, cancer care, neurosciences, surgery, pediatric specialties, neonatology, women’s health and trauma.
Cain Brothers served as the buy-side advisor to Orlando Health on both transactions.