The board of Ocoee, Fla.-based based Health Central approved the hospital's sale to Orlando Health for $177 million last night and Health Central CEO Richard Irwin subsequently announced his resignation, according to an Orlando Sentinel report.
Mr. Irwin served as Health Central's president and CEO for nearly 25 years. His resignation will go into effect upon completion of the sale. His decision did not come as a surprise — one executive said Mr. Irwin wanted to ensure the hospital was on a good path before leaving, according to the report.
Proceeds from the sale, plus interest, will be paid to the local tax district over a span of 15 years. The sale has been in the works since February and will put an end to Health Central's 60 years as an independent hospital. The new entity will be called Orlando Health Central and the transaction is expected to officially close by March 31.
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Mr. Irwin served as Health Central's president and CEO for nearly 25 years. His resignation will go into effect upon completion of the sale. His decision did not come as a surprise — one executive said Mr. Irwin wanted to ensure the hospital was on a good path before leaving, according to the report.
Proceeds from the sale, plus interest, will be paid to the local tax district over a span of 15 years. The sale has been in the works since February and will put an end to Health Central's 60 years as an independent hospital. The new entity will be called Orlando Health Central and the transaction is expected to officially close by March 31.
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