Not-for-profit Baptist Health Care Corp., Pensacola, Fla., agreed to acquire 339-bed West Florida Hospital from HCA for $245 million, Baptist said.
The four-hospital system plans to shift its inpatient services from 435-bed Baptist Hospital, located downtown, to West Florida Hospital, on Pensacolas north side. West Florida will be renamed Baptist Hospital. The current Baptist Hospital building will provide urgent care, diagnostic and imaging services and offices for physicians and corporate management. Baptist also will add nine-clinic West Florida Primary Care to its network.
The deal by HCA follows the pronouncement last month by Jack Bovender Jr., chairman and CEO, that the company was in the market to buy a large system (May 12, p. 10).
HCA said that the sale is contingent on Baptist securing its financing and complying with the Hart-Scott-Rodino Antitrust Improvements Act of 1976. The company expects the deal to close by year-end.