Industry News

2013-07-25 – HCA West Florida to Buy Three Tampa Bay Hospitals From IASIS Healthcare

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HCA and IASIS Healthcare LLC 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.

July 29, 2013