Adventist Health System, the parent company of Florida Hospital, announced today it has signed an agreement for the purchase of substantially all of the assets of the 120-bed Bayfront Health Dade City hospital and its related outpatient services. The transaction is expected to be complete in the first quarter of 2018 and once official, the facility will join the West Florida Division of Adventist Health System.
“We are excited about the opportunity to offer advanced health care services in Dade City that match the needs of the community and deliver the Florida Hospital brand of inspired, whole-person care,” said Mike Schultz, president and CEO of the Adventist Health System West Florida Division. Schultz said, “Bayfront Health is a valuable asset to Dade City and its residents, and we want to continue the long history of providing essential care in that facility.”
The due diligence and discovery process continues in order to allow for both Adventist Health System and Community Health Systems to best plan for the future of Bayfront Health Dade City.
“Finding a partner to allow a seamless medical care experience for our patients is important,” said Linda Stockton, chief executive officer of Bayfront Health Dade City, “and Florida Hospital can bring their experience to build on our history of service and success.”
The sale of Bayfront Health Dade City includes the 120-bed hospital at 13100 Fort King Road, Dade City, FL, and physician clinic operations as well as outpatient services.
The transaction is subject to customary regulatory approvals. Until the transaction is complete, current ownership will remain in place. Financial terms have not been disclosed.