Orlando (Fla.) Health's proposed takeover of Bayfront Health St. Petersburg (Fla.) Hospital from Community Health Systems has received approval from the St. Petersburg City Council, according to the Tampa Bay Business Journal.
Franklin, Tenn.-based CHS announced June 25 that it had signed a definitive agreement to sell the 480-bed hospital to Orlando Health. In a 6-1 vote on July 9, the St. Petersburg City Council cleared the way for the transaction to proceed. The deal required approval by the city council because the hospital is on city property.
Under the deal, Orlando Health will take over the Bayfront Health St. Petersburg property and its 50-year lease.
In a statement to the Tampa Bay Times, Orlando Health said the transaction is expected to close by the end of September.