ST. PETERSBURG, Fla — UPDATE (7/9/20): St. Petersburg City Council has voted 6-1 to allow Orlando Health to take over Bayfront Health St. Petersburg in a 50-year lease with the option for two 10-year extensions.
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Bayfront Health St. Petersburg, a 480-bed hospital located in Pinellas County, and its associated assets are set to be sold to a subsidiary of Orlando Health.
The hospital's parent company, Community Health Systems, Inc., announced Thursday that an affiliate of the company had signed a definitive agreement on its sale.
But, the sale has not seen its final steps as Orlando Health must wait for St. Petersburg City Council's approval before assuming responsibility.
"Orlando Health will assume responsibility for the long-term lease and operations of the hospital. The lease transfer is subject to the consent of the St. Petersburg City Council," Community Health Systems, Inc wrote in a release. "The transaction is expected to close by the end of the third quarter this year, subject to regulatory approvals and closing conditions."
In an internal memo obtained by 10 Tampa Bay, Bayfront Health St. Petersburg CEO Sharon Hayes shared the hospital's future with trustees, staff, volunteers, clinics and employees.
Hayes shared that Orlando Health is excited to have the hospital join its network, highlighting the benefits of affiliation with the healthcare organization offer in terms of building upon serving the community.
"Our patients can count on continuing to experience quality health care. Orlando Health has committed to working with all employees in good standing when the transaction is complete," Haley wrote in the memo.
Members of Orlando Health's leadership and transition teams will visit the hospital in the "coming weeks."
Community Health Systems, Inc., through its subsidiary, owns, leases or operates 99 affiliated hospitals in 17 states and is considered one of the leading operators of general acute care hospitals across the country.
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