Steward Health Care received approval from a U.S. Bankruptcy Court judge to sell three of its Florida hospitals to Orlando Health in a $439 million deal.
Orlando Health, the highest bidder for the facilities, is acquiring Melbourne Regional Medical Center, Rockledge Regional Medical Center and Sebastian River Medical Center, all in Florida, according to a Tuesday court filing.
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Steward did not immediately respond to a request for comment.
Florida based-Orlando Health was designated as a stalking horse bidder after entering a binding asset purchase agreement with Steward on Aug. 14, which allowed other potential buyers the opportunity to submit bids for the facilities through Aug. 26.
Dallas-based Steward, which filed for Chapter 11 bankruptcy protection in May, has postponed several sale hearings as it seeks to sell off its entire portfolio.
In June, Steward filed a notice to delay sale hearings for facilities in Arizona, Massachussetts and Texas. Less than a month later, the system requested additional postponement of hearings for hospitals in Arizona, Arkansas, Louisiana, Ohio and Pennsylvania.
Last month, Steward finalized the sale of six hospitals and its physician group.
The health system originally had two other sale hearings scheduled for Tuesday. On Monday, Steward rescheduled its hearing for the facilities in Arkansas and Louisiana to Thursday, but a new date has not been set for its Texas hospitals and remaining Florida locations, according to a Monday court filing.
The facilities involved in the hearing that has yet to be rescheduled are Scenic Mountain Medical Center in Big Springs, Texas, The Medical Center of Southeast Texas in Port Arthur, Coral Gables Hospital in Florida, Florida Medical Center in Fort Lauderdale, Hialeah Hospital in Florida, North Shore Medical Center in Miami and Palmetto General Hospital in Hialeah, Florida.
