Press release from Business Wire
HCA West Florida to Buy Three Tampa Bay Hospitals From IASIS Healthcare
Thursday, July 18, 2013
HCA West Florida to Buy Three Tampa Bay Hospitals From IASIS Healthcare16:05 EDT Thursday, July 18, 2013
NASHVILLE, Tenn. (Business Wire) -- HCA (NYSE:HCA) and IASIS Healthcare® LLC (“IASIS”) today announced the signing of a definitive agreement for the sale of three Tampa Bay hospitals—Palms of Pasadena Hospital, Memorial Hospital of Tampa and Town & Country Hospital—by IASIS to HCA West Florida.
Palms of Pasadena Hospital is a 307-bed facility in St. Petersburg. Memorial Hospital of Tampa and Town & Country Hospital are located in Tampa and have 183 and 201 beds, respectively. Upon closing of this transaction, the three hospitals will become part of HCA West Florida.
“As members of the IASIS Healthcare family of hospitals for 14 years, Memorial Hospital of Tampa, Palms of Pasadena Hospital and Town & Country Hospital have been an important part of our company's history and success, and we are proud of what they have accomplished,” said IASIS Healthcare President and Chief Executive Officer Carl Whitmer. “This transaction is an example of how ongoing changes in the healthcare industry are creating a variety of opportunities for health systems across the country to evolve their care delivery models. And as such, recent assessments of our strategic growth plans in new and existing markets coupled with HCA's scale and complementary capabilities in Florida make this the appropriate time to change ownership of these three important community hospitals.”
“Palms of Pasadena Hospital, Memorial Hospital of Tampa and Town & Country Hospital have strong traditions of caring for their communities for many years,” said Peter A. Marmerstein, President of HCA's West Florida Division. “These hospitals will enhance our ability to serve patients throughout the Tampa Bay and St. Petersburg area, and we look forward to welcoming them to HCA West Florida.”
Last year, HCA West Florida hospitals provided care to 1.2 million patients. With this acquisition, HCA West Florida will be expanded to include 19 hospitals and 16 ambulatory surgery centers in West and Central Florida.
IASIS and HCA are working closely to ensure a smooth transition for the hospital employees, patients and communities served by these three hospitals.
Subject to customary regulatory approvals and closing conditions, this transaction is expected to close prior to year end. Terms of the agreement were not disclosed.
All references to “HCA” as used throughout this release refer to HCA Holdings, Inc. and its affiliates.
About HCA West Florida:
HCA's West Florida Division provides a complete continuum of high quality programs and services to meet the healthcare needs of residents and businesses throughout west and central Florida, caring for 1.2 million patients last year. HCA West Florida has 16 hospitals (including Poinciana Medical Center opening summer 2013), 16 ambulatory surgery centers, numerous diagnostic imaging and occupational health sites, physician practices, medical education and teaching programs, a regional lab, and consolidated service center. Twelve HCA West Florida hospitals were recently named Top Performers on Key Quality Measures™ by The Joint Commission. With an economic impact exceeding $1.8 billion in 2012, HCA West Florida is affiliated with HCA, a leading comprehensive, integrated provider of healthcare and related services. In Florida, HCA is one of the largest employers and healthcare providers, operating 10,335 licensed beds in 38 hospitals with a staff exceeding 50,918 employees and an economic impact of $14.5 billion.
About IASIS Healthcare:
IASIS Healthcare, located in Franklin, Tennessee, is a leading provider of high quality, affordable healthcare services in urban and suburban markets. With total annual net revenue of approximately $2.6 billion, IASIS owns and operates 19 acute care hospitals, one behavioral health hospital, several outpatient service facilities, more than 160 physician clinics, and Medicaid and Medicare managed health plans in Arizona and Utah that serve more than 174,000 members. IASIS' healthcare facilities offer a variety of access points for convenient patient care in numerous regions across the U.S., including: Salt Lake City, Utah; Phoenix, Arizona; Tampa-St. Petersburg, Florida; five cities in Texas, including Houston and San Antonio; Las Vegas, Nevada; and West Monroe, Louisiana. For more information on IASIS, please visit the Company's Web site at www.iasishealthcare.com.
Ed Fishbough, 615-344-2810
Michele Simpson, 615-467-1255