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Ascension buys Florida hospital, plans $47M investment

Ardent Health Services completed the sale of its interest in Bay Medical Sacred Heart in Panama City, Fla., to Ascension on March 14.

Nashville, Tenn.-based Ardent and Sacred Heart Health System, part of St. Louis-based Ascension, jointly operated the 323-bed hospital. In November 2018, Ardent agreed to sell its interest in the hospital and its affiliated physician offices and clinics to Ascension.

Ascension plans to invest $47 million in Bay Medical, according to WHJG. A portion of those funds will be used to repair damage caused by Hurricane Michael in October 2018. Ascension also plans to increase the number of private rooms at the hospital.

More articles on healthcare industry transactions:

7 hospital mergers called off in past year
Rennova acquires Tennessee hospital
Bankrupt California hospital chain closes $235M sale

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