Make us your home page

Florida Hospital chain to buy Bayfront Health Dade City

Adventist Health System, the parent company of Florida Hospital, announced Tuesday that it plans to buy Bayfront Health Dade City hospital and its related outpatient services.

The deal is expected to close in the first quarter of 2018, which will make it the 11th hospital in the chain to join the West Florida Division of Adventist Health System, according to a press release. Terms of the deal were not disclosed. The transaction is subject to customary regulatory approvals.

"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," Mike Schultz, president and CEO of the Adventist Health System West Florida Division, said in a statement.

The sale includes the 120-bed hospital at 13100 Fort King Road, some physician clinic operations and outpatient services, the release said.

Community Health Systems, which owns six Bayfront Health hospitals along Florida's Gulf Coast from Brooksville to Venice, is one of the nation's largest owners and operators of hospitals, with 137 of them in 21 states. The company has struggled financially in recent years, posting heavy net losses quarter after quarter and has sold dozens of under-performing hospitals from its portfolio. CHS stock also has plummeted over the last three years.

Bayfront Health Dade City has mirrored its owner's fortunes, holding a reputation as a financially struggling hospital. The current ownership will remain in place until the deal closes next year.

The Florida Hospital chain has been aggressively expanding in the state. Earlier this year Adventist Health System paid $14.5 million for 103 acres along Interstate 4 just west of Florida Polytechnic University with plans to build a freestanding emergency room and a possible 200-bed hospital in the next decade, if demand in the Lakeland region warrants it.

Florida Hospital has more than 25 hospitals and clinics in the Sunshine State, with a number of them clustered around the Tampa Bay region, in the Orlando area and in Daytona Beach. The system employs more than 7,000 physicians and health care professionals in the state. Its parent, Adventist, is one of the nation's largest health care companies, with 45 hospitals across nine states.

PREVIOUS COVERAGE: Florida Hospital buys 100 acres in Polk to connect Tampa and Orlando hospitals

The purchase of the Dade City hospital will strengthen Florida Hospital's existing health care systems in both Zephyrhills and Wesley Chapel. The company employs nearly 1,000 people in Wesley Chapel and recently wrapped up a $78 million expansion there.

Contact Justine Griffin at or (727) 893-8467. Follow @SunBizGriffin.

Florida Hospital chain to buy Bayfront Health Dade City 12/05/17 [Last modified: Tuesday, December 5, 2017 6:29pm]
Photo reprints | Article reprints

© 2018 Tampa Bay Times


Join the discussion: Click to view comments, add yours

  1. Crystal Lagoon planners brace for chilly ribbon cutting today

    Real Estate

    WESLEY CHAPEL — Mother Nature seems to have a way of putting a chill on one of the hottest amenities in residential real estate development.

  2. Tourism brought in record $112 billion to Florida in 2016


    Tourism brought in a record $112 billion to Florida's economy in 2016, up about 3 percent from 2015, according to Visit Florida figures released Wednesday. About 10 percent — $88 billion — of the state's gross domestic product came from tourism in 2016. The 2016 figures are the most recent available, as …

  3. Dow Jones closes above 26,000 for first time


    The latest on developments in financial markets (All times local):

    4 p.m.

  4. Water Street Tampa developers seek artist and design for $600,000 outdoor art near USF med school


    TAMPA — Water Street Tampa called Wednesday for artists to send in their ideas for a big piece of public art for the outdoor plaza between one of the $3 billion project's office buildings and the new University of South Florida Morsani College of Medicine and Heart Institute.

  5. Apple to build second campus, hire 20,000 in $350B pledge


    SAN FRANCISCO — Apple is planning to build another corporate campus and hire 20,000 workers during the next five years as part of a $350 billion commitment to the United States that will be partially financed by an upcoming windfall from the country's new tax law.