Altamonte Springs, Fla.-based Adventist Health System purchased 103 acres in Florida's Polk County to extend and connect its Orlando and Tampa Bay, Fla.-based health systems, according to a Tampa Bay Times report.
Adventist Health paid $14.5 million for the plot to expand services at Orlando-based Florida Hospital facilities near Polk County. The health system plans to build a freestanding emergency room and potentially a 200-bed hospital during the next 10 years.
The plans are aimed at "better connecting the existing Florida Hospital network of care between the Tampa and Orlando markets," Mike Schultz, president and CEO of Florida Hospital's West Florida division, told Tampa Bay Times.
As of Oct. 3, Adventist does not have plans to break ground on any facilities or an immediate timeline for the project.
More articles on transactions and valuations:
10 recent hospital transactions and partnerships
Global Medical REIT closes on $40.65M acquisition of Seton Healthcare, Kindred joint venture
Bergen Regional rebrands under new management