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Commercial Real Estate
Business Observer Friday, Nov. 8, 2019 1 week ago

Advent Health buys two Polk County centers for $100 million

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Health care provider makes inroads in Davenport, Lake Wales
by: Kevin McQuaid Commercial Real Estate Editor

Advent Health, the Altamonte Springs health care provider that is among the largest faith-based care organizations in the U.S., has acquired a pair of Polk County medical centers for a combined $100 million, according to county property records.

The nonprofit group, through Adventhealth Polk North Inc., bought regional medical centers in Davenport and Lake Wales, records show.

The larger of the two purchases, the former Heart of Florida Regional Medical Center, is located at 40100 Highway 27, in Davenport. Advent Health allocated $90 million to that purchase.

The balance — $10.146 million — was spent buying the former Lake Wales Medical Center, at 410 11th St. South.

In Lake Wales, the center provides emergency and primary care, along with treatment for heart issues and cancer, according to the medical center’s website. It also offers orthopedic, rehabilitation and imaging services.

The Davenport hospital also offers emergency, heart and diabetes care, together with cancer treatment, weight issues and imaging, its website notes.

Advent Health officials did not respond to telephone calls or emails seeking comment on the reasons for the acquisitions or future plans for the pair of Polk properties.

Formed in 1973, Advent Health is a Christian health care provider begun by members of the Seventh Day Adventist Church. The organization says its mission is to treat individuals with dignity and to treat them holistically.

Advent Health generates roughly $11 billion in revenue annually.

Today, Advent Health operates roughly 50 hospitals and 1,200 care sites in nine states. In Florida, Advent Health maintains 29 locations, including in Tampa, Orlando, Wesley Chapel and Zephyrhills.

 

 

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