Ardent Health Services and Sacred Heart Health System Finalize Sale of Bay Medical Sacred Heart
PANAMA CITY, Fla.–(BUSINESS WIRE)–Today, Ardent Health Services and Ascension’s Sacred Heart Health System announced they completed the sale of Ardent’s interest in Bay Medical Sacred Heart to Ascension. The transaction includes the hospital and related physician clinic operations in Panama City and Bay County, Florida. Terms of the sale were not disclosed.
Bay Medical was jointly owned by Ardent and Sacred Heart, which is part of Ascension, one of the nation’s leading non-profit and Catholic health systems. The effective date of the transaction is March 14, 2019.
In Florida, Ascension locations now include four Sacred Heart Health System hospitals – Bay Medical in Panama City plus hospitals in Pensacola, Miramar Beach and Port St. Joe – as well as the hospitals of St. Vincent’s HealthCare in Northeast Florida.
“The caregivers and physicians of Sacred Heart are excited to continue working with our colleagues at Bay Medical with a more significant presence,” said Tom VanOsdol, the president and CEO of Ascension Florida. “We look forward to applying the full expertise, resources and clinical excellence of Ascension to benefit the Panama City and Bay County individuals and families we are privileged to serve.”
About Sacred Heart Health System
In Florida, Ascension operates Sacred Heart Health System based in Pensacola and St. Vincent’s HealthCare based in Jacksonville. Ascension’s facilities in Florida include seven hospitals and more than 100 other sites of care. Together, they employ more than 10,000 associates. Across the region, Sacred Heart and St. Vincent’s have served North Florida communities for more than 145 years. In fiscal year 2018, the statewide Ministry provided $180 million in community benefit and care of persons living in poverty. Ascension is a faith-based healthcare organization dedicated to transformation through innovation across the continuum of care. As one of the nation’s leading non-profit and Catholic health systems, Ascension is committed to delivering compassionate, personalized care to all, with special attention to persons living in poverty and those most vulnerable. Ascension includes approximately 156,000 associates and 34,000 aligned providers. The national health system operates more than 2,600 sites of care – including 151 hospitals and more than 50 senior living facilities – in 21 states and the District of Columbia. For more information on Sacred Heart Health System, visit healthcare.ascension.org.
About Ardent Health Services
Ardent Health Services invests in people, technology, facilities and communities, producing high-quality care and extraordinary results. Based in Nashville, Tennessee, Ardent’s subsidiaries own and operate 30 hospitals in six states with more than 25,000 employees including 1,150 employed providers. Five Ardent hospitals were recognized by Modern Healthcare as “Best Places to Work” in 2018 – the eleventh consecutive year an Ardent facility made this list.