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DADE CITY — Adventist Health System, the parent company of Florida Hospital, agreed to purchase substantially all of the assets of the 120-bed Bayfront Health Dade City hospital in Pasco County and its related outpatient services.
According to a press release, the transaction will be finalized in the first quarter of 2018 and once official, the facility will join the west Florida division of Adventist Health System.
The sale agreement includes the 120-bed hospital at 13100 Fort King Road in Dade City, physician clinic operations and outpatient services. Financial terms were not disclosed.
“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,” states Mike Schultz, president and CEO of Adventist Health System's west Florida division, in the release. “Bayfront Health is a valuable asset to Dade City and its residents, and we want to continue the long history of providing essential care in that facility.”
The transaction is subject to customary regulatory approvals, and due diligence continues. Until the transaction is complete, current ownership will remain in place.
“Finding a partner to allow a seamless medical care experience for our patients is important,” states Linda Stockton, CEO of Bayfront Health Dade City, in the release, “and Florida Hospital can bring their experience to build on our history of service and success.”
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