Nashville, Tenn.-based Hospital Corporation of America plans to create Palm Beach County's largest medical center with the merger of its West Palm (Fla.) Hospital and Atlantis, Fla.-based JFK Medical Center, according to South Florida Business Journal.
With 717 beds and more than 2,600 employees, the two organizations will operate under the same hospital license and West Palm Hospital will become JFK Medical Center North Campus starting April 1, according to the report.
The impetus behind the merger was primarily financial and administrative, according to the report. In 2014, JFK brought in $35.1 million on $429.3 million in revenue, but West Palm recorded a $7.5 million loss on $74.2 million in revenue, according to the report.
More transactions and valuation:
Harrington Region revives partnership with foundation through merger: 5 things to know
CHS signs definitive agreement to divest NJ hospital
Tenet, WellStar reach agreement for sale of Tenet's Georgia hospitals