May 22, 2019 (Altamonte Springs, FL) – AdventHealth, one of the premier faith-based health systems in the U.S., has signed definitive agreements to purchase 193-bed Heart of Florida Regional Medical Center in Davenport, Florida, and 160-bed Lake Wales Medical Center in Lake Wales, Florida, from affiliates of Community Health Systems, Inc. (NYSE: CYH). The agreement also includes the hospitals’ related businesses, physician clinic operations and outpatient services.
“We are excited about the opportunity to offer our unique promise of whole-person care to these communities and look forward to extending our mission to the team members, physicians, patients and residents of Polk County and the surrounding area,” said Terry Shaw, president/CEO of AdventHealth.
The transactions are expected to be complete in late third quarter of this year. In the meantime, AdventHealth and affiliates of CHS are committed to working together through the due diligence and transition process.
“Our hospitals are very important to our communities and we look forward to working with AdventHealth to build upon the care we provide,” said Ann Barnhart, CEO of Heart of Florida Regional Medical Center. “We believe this will allow for a seamless experience of quality health care delivery to these communities.”
“AdventHealth is well-respected for their work to sustain and enhance medical services and we are excited to work with them to benefit our patients and community,” said Rebecca Brewer, CEO of Lake Wales Medical Center. “Our hospital has been taking care of our neighbors, friends and family for many years and this will continue in the future.”
Each of the transactions is subject to customary regulatory approvals.