Shands Lake Shore Regional Medical Center in Lake City, Fla., has announced it will end all services at the hospital and its physician clinics on Aug. 31.
The hospital, owned by the Lake Shore Hospital Authority, cited a decline in patient volume as a reason for the closure. The declining volume and financial challenges have resulted in losses that are unsustainable, the hospital said.
The announcement came after Franklin, Tenn.-based Community Health Systems, which operates the hospital, entered into a settlement and termination agreement with the Lake Shore Hospital Authority for the planned closure of Shands Lake Shore on June 30, according to a recent filing with the Securities and Exchange Commision. After Shands Lake Shore closes, CHS will operate 12 hospitals in Florida.
The hospital authority is seeking statements of interest from potential operators and has received five proposals from potential management companies, according to TV station WCJB. The Lake Shore Hospital Authority board of trustees will meet Aug. 10 to discuss the five proposals.