The organizations completed the transaction about two months after entering into a definitive agreement. Under the deal, CHS sold its majority ownership in 84-bed St. Cloud Regional to Orlando Health, which held minority ownership for more than 15 years.
With the transaction complete, St. Cloud Regional has been renamed Orlando Health St. Cloud Hospital.
“We are thankful to have St. Cloud Hospital become an important part of our organization,” said Orlando Health President and CEO David Strong in a news release. “As Orlando Health thoughtfully expands its services, we look forward to increasing our presence in the Osceola [County] region and working together with team members and physicians to continually improve patient experience and clinical quality outcomes.”
CHS now operates 13 hospitals in Florida. The for-profit hospital operator announced June 25 that it has signed a definitive agreement to sell another hospital to Orlando Health. Under the deal, expected to close by the end of the third quarter, Orlando Health will assume the long-term lease and operations of 480-bed Bayfront Health St. Petersburg.
More articles on healthcare industry transactions:
CommonSpirit strikes partnership to offer direct-to-employer primary care
Quorum Health sells Illinois hospital
Orlando Health, LHC Group to form joint venture
