AdventHealth has entered into a definitive agreement with an affiliate of Community Health System to purchase two Charlotte County hospitals whose inpatient care remains closed due to hurricane damage.
The deal to acquire the 254-bed ShorePoint Health Port Charlotte and 208-bed ShorePoint Health Punta Gorda was valued at $265 million.
The transaction includes Cape Coral’s Shore Point Physician Clinic, Outpatient Services, and Shore Point Health Emergency Department.
“We are excited about the opportunity to bring whole-person care to these communities and look forward to partnering with our dedicated team members and physicians to meet the growing health care needs of Southwest Florida.” AdventHealth President and CEO Terry Shaw said in a news release. A release announcing the sale.
ShorePoint Health Punta Gorda is closed indefinitely for inpatient care due to storm surge and flooding from Hurricane Helen in September and further damage from Hurricane Milton in October. Repairs are in progress.
ShorePoint Health CEO Andy Romine said in a news release:
The transaction is expected to close in the first quarter of 2025 and is subject to regulatory approval.
Altamonte Springs-based AdventHealth and Tennessee-based Community Health Systems affiliates plan to work together to create a seamless transition for employees, providers and patients, according to a news release.
Over the past decade, AdventHealth, a faith-based nonprofit organization, has expanded its reach west to Hillsborough, Polk, Pasco and Pinellas counties. This month, the system opened a $23 million, 13,379-square-foot emergency department in Hillsboro’s Northdale neighborhood.
