On March 1, Altamonte Springs, Fla.-based AdventHealth completed the $260 million acquisition of ShorePoint Health-Port Charlotte (Fla.) and ShorePoint Health-Punta Gorda (Fla.) from Franklin, Tenn.-based Community Health System.
The acquisition also included related physician clinic operations, outpatient services and the Cape Coral ShorePoint Health emergency department. ShorePoint Health-Punta Gorda has been closed since the damage from hurricanes Helene and Milton.
Adam Johnson, president and CEO of ShorePoint Health-Port Charlotte, connected with Becker's March 10 to share his goals for a smooth transition plan for both patients and employees at the hospital following the acquisition.
Becker's also recently connected with Christine Stewart, vice president of integration management and regional COO for AdventHealth. Here, she discusses transition plans for the acquired hospitals and associated facilities, along with six factors that system leaders should consider when entering mergers and acquisitions in today's healthcare market.
Editor's note: Responses were lightly edited for length and clarity.
Q: What were the factors behind AdventHealth’s decision to acquire ShorePoint Health-Port Charlotte and ShorePoint Health-Punta Gorda?
Christine Stewart: With an established network in West Florida, the Port Charlotte facility and other entities in this area were a natural geographical fit to provide a connected, comprehensive continuum of services to this community and surrounding areas.
Q: What steps are being taken to ensure a seamless transition for patients, employees, and the broader community?
CS: AdventHealth has a wealth of experience and talented resources in integration management who have been leading transition activities there at the hospital for the last 100 days. It takes many cross-functional hands to make this happen, but the work doesn't end on day one. When we come into a community, AdventHealth stays. Every daily effort is meticulously designed to care for our patients, team members, and community members in a way that honors our mission and delivers on our brand promise to help people feel whole.
Q: Does AdventHealth have any plans for similar future acquisitions?
CS: Our growth strategy focuses on expanding existing networks rather than scattering resources so any future opportunities will be complimentary to adjacent AdventHealth communities and align culturally to AdventHealth and our mission.
Q: What questions should system leaders consider when looking into M&A?
CS:
- Is there a cultural fit?
- Does the specific growth enhance your core business?
- Do you have the resources and expertise to manage the entire lifecycle of a transaction — from diligence to integration to continuing operations?
- Will the opportunity be financially viable?
- Can it seamlessly enter your network?
- Do you have an experienced leadership pipeline to successfully operate the new acquisition?