HCA Completes Purchase of IASIS' Florida Hospitals

Nashville, Tenn.-based Hospital Corp. of America has completed its purchase of three Florida hospitals from Franklin, Tenn.-based IASIS Healthcare.

The three Florida hospitals HCA acquired are 307-bed Palms of Pasadena Hospital in St. Petersburg, 183-bed Memorial Hospital of Tampa and 201-bed Town and Country Hospital, also in Tampa. The hospitals will become part of HCA West Florida, a division of HCA that currently has 38 hospitals and 51,000 employees.

Terms of the transaction were not disclosed. IASIS intends to use the proceeds from the sale and from its recently completed sale-leaseback transaction with Birmingham, Ala.-based Medical Properties Trust to pursue various strategic initiatives aimed at growth in existing markets, expansion into new markets and other objectives, according to a news release.

In July, IASIS and HCA signed a definitive agreement regarding the sale. IASIS President and CEO Carl Whitmer did not specify why his company decided to sell the three hospitals other than citing "ongoing changes in the healthcare industry" and evolving care delivery models.

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