ST. PETERSBURG — Bayfront Health St. Petersburg, the city’s oldest hospital, will be sold.
City Council on Thursday approved new lease terms for the facility, which is on city property. That decision clears the way for nonprofit Orlando Health Systems to take over operations of the hospital from Community Health Systems Inc., the private company which currently owns the 480-bed hospital.
The lease with Orlando Health will run for 50 years. Orlando Health officials said last month the sale would likely be complete by Sept. 30.
The vote was 6-1, with Council member Amy Foster voting no. Lisa Wheeler-Bowman was absent.
The agreement states Orlando Health must continue to “provide charity care to needy and underserved persons” and “those who may otherwise be unable to afford or obtain care due to various possible adverse circumstances.”
The sale comes after city officials became frustrated with the performance of Bayfront Health under Community Health Systems’ management.
Since the company took over the hospital in 2013, Bayfront Health has seen layoffs and resignations of top executives, the ending of a partnership with the University of South Florida, and a Department of Justice investigation related to charity care finances in recent years.
In early 2019, then-Bayfront Chief Executive Officer Joe Mullany gave council members a glowing annual report that did not align with problems playing out in public view.
The purchase of Bayfront will be the nonprofit’s debut in the Tampa Bay area, and the 14th hospital in its portfolio, according to the Orlando Sentinel. The sale also would mark the second Community Health Systems hospital acquired by Orlando Health, as it purchased Osceola County’s St. Cloud Regional Medical Center in April, the Sentinel reported.
Community Health Systems, based in Tennessee, has sold more than 50 hospitals since 2017 to pay off debt related to its $7.6 billion purchase of Florida’s Health Managed Associates in 2014, according to the National Business Journal.
"sold" - Google News
July 09, 2020 at 07:04AM
https://ift.tt/2ZSWOez
Bayfront Health St. Petersburg sold to Orlando nonprofit hospital system - Tampa Bay Times
"sold" - Google News
https://ift.tt/3d9iyrC
https://ift.tt/3b37xGF
Bagikan Berita Ini
0 Response to "Bayfront Health St. Petersburg sold to Orlando nonprofit hospital system - Tampa Bay Times"
Post a Comment