The announcement about the project, which UCF plans to build through its joint venture with Nashville, Tenn.-based Hospital Corporation of America, came from university officials during a trustee meeting Monday.
That timeline could change if the UCF-HCA Certificate of Need application for the hospital is contested by other hospitals or faces letters of concern by competitors, the report notes. When those things happen, the process can last several months or years before the application is approved or denied.
But UCF officials don’t expect that to happen. That’s because their application is now the only one for Lake Nona, according to the report.
Although UCF and HCA haven’t signed their final joint venture agreement yet, UCF is expected to have about 20 percent ownership of the joint venture and 50 percent of its governance, reports Orlando Sentinel.
Additionally, UCF provides HCA with the land, a long-term lease of up to 99 years and other elements such as its brand, according to the report. HCA, for its part, is providing, in cash, all funds for the start-up capital, construction and operations.
The name of the teaching hospital has yet to be decided.
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