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HCA bids $415M to purchase Indian River Medical Center

Nashville, Tenn.-based HCA Healthcare bid $415 million to purchase Vero Beach, Fla.-based Indian River Medical Center, the highest of eight bids to acquire the hospital, according to TCPalm.

The boards of the hospital district and Indian River Medical Center Inc., which operates the hospital, will meet separately Friday to select up to three finalists to submit more in-depth proposals in January.

Officials plan to select a minimum of six finalists to discuss their proposed offers and how they plan to operate the facility. A finalist will be chosen in late January or early February, the report states.

Hospital officials previously said they received interest from 12 potential suitors.

The top bidders and their offers included:

  • HCA — $415 million
  • Health First (Rockledge, Fla.) — $377 million
  • Steward Health Care (Boston) — $375 million
    Adventist Health System (Altamonte Springs, Fla.) — $302 million to $352 million
  • RCCH HealthCare Partners (Brentwood, Tenn.) — $280 million
  • Universal Health Services (King of Prussia, Pa.) — $215 million, plus undetermined routine and strategic investments
  • Orlando (Fla.) Health — $140 million to $260 million
  • Cleveland Clinic — $102 million, plus an undetermined amount in capital spending

More articles on transactions and valuations:
State OKs Hartford HealthCare deal to affiliate with Connecticut hospital
Houston Healthcare, Navicent explore potential partnership
UPMC children's hospital, West Virginia facility partner on newborn care

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