Ardent Health Services completed the sale of its interest in Bay Medical Sacred Heart in Panama City, Fla., to Ascension on March 14.
Nashville, Tenn.-based Ardent and Sacred Heart Health System, part of St. Louis-based Ascension, jointly operated the 323-bed hospital. In November 2018, Ardent agreed to sell its interest in the hospital and its affiliated physician offices and clinics to Ascension.
Ascension plans to invest $47 million in Bay Medical, according to WHJG. A portion of those funds will be used to repair damage caused by Hurricane Michael in October 2018. Ascension also plans to increase the number of private rooms at the hospital.
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