Four major providers are in the running to acquire public-owned Citrus Memorial Hospital in Inverness, Fla. — Nashville, Tenn.-based Hospital Corp. of America, Naples, Fla.-based Health Management Associates, Brentwood, Tenn.-based RegionalCare Hospital Partners and Tampa (Fla.) General Hospital, according to a Tampa Bay Times report.
Citrus Memorial is looking for another hospital or health system to offset its $83 million debt, according to the report. HCA, Health Management and RegionalCare — all for-profit systems — have submitted bids to acquire the 198-bed hospital, which is one of the largest in Citrus County.
HCA offered $291 million for Citrus Memorial, while RegionalCare's bid is $252 million. Health Management has offered two individual bids, ranging from $238 million to $293 million, according to the report.
Tampa General has proposed affiliating with Citrus Memorial instead of outright buying it. Tampa General CFO Steve Short told the Tampa Bay Times he does not believe the large money offers from the for-profit chains is a disadvantage, as the community may prefer Tampa General's offer of local control.
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