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Larkin Community Hospital expands reach with $40M acquisition

Larkin Community Hospital in South Miami, Fla., has acquired 247-bed Palm Springs General Hospital in Hialeah, Fla., for $40 million, according to a South Florida Business Journal report.

"We are very excited to welcome Palm Springs General Hospital employees and physicians to our Larkin family," said Larkin Chairman and President Jack J. Michel, MD.

The deal is a positive step for Palm Springs General, which has faced financial troubles in recent years. The hospital reported a $764,855 loss on $60.4 million in revenue in 2014.

With the acquisition of Palm Springs General, Larkin has 775 beds, including 443 acute care beds, according to the report.

More articles on healthcare industry transactions:

26 hospital transactions and partnerships in January
Novant, Memorial Health partnership marches forward
CHI St. Luke's expands footprint in Texas

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