Orlando Health is making a significant push to expand its reach with a potential acquisition of three hospitals in Brevard and Indian River counties.
According to court documents filed on Wednesday, Orlando Health has submitted a bid in purchasing Sebastian River Medical Center, Melbourne Regional Medical Center, and Rockledge Regional Medical Center.
The hospitals are currently owned by Steward Health Care, which filed for Chapter 11 bankruptcy in May.
To initiate the bidding process, Orlando Health has been designated as a “stalking horse bidder,” setting an initial offer of $439.4 million in cash.
However, the final purchase price could fluctuate based on various factors. Other interested parties have until August 26, 2024 to submit their bids.
This acquisition aligns with Orlando Health’s aggressive growth strategy. The health system recently announced plans to purchase a majority stake in a five-hospital system based in Birmingham, Alabama, for approximately $910 million.
Orlando Health currently operates 17 hospitals and other medical facilities, supported by a network of approximately 4,500 affiliated physicians.
With the addition of these potential new facilities, Orlando Health would operate a total of 21 hospitals and medical centers, serving a broader patient population.
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