Orlando (Fla.) Health has completed the purchase of three Steward Health Care hospitals and related physician practices in Florida.
U.S. Bankruptcy Court Judge Christopher Lopez approved the $439 million sale in September as part of Dallas-based Steward's Chapter 11 bankruptcy proceedings. The purchase includes Rockledge (Fla.) Regional Medical Center, Melbourne (Fla.) Regional Medical Center, Sebastian (Fla.) River Medical Center and some of Steward Medical Group's practices.
Orlando Health rebranded the hospitals as Orlando Health Melbourne Hospital, Orlando Health Rockledge Hospital and Orlando Health Sebastian River Hospital, according to an Oct. 24 news release.
"History has shown that when Orlando Health expands into new communities, the quality of healthcare increases and the communities benefit," Ohme Entin, senior vice president of the Orlando Health east region, said in the release. "We're excited to replicate those successes with these communities in Brevard and Indian River counties."
The acquisitions come as Steward, which filed for Chapter 11 protection on May 6, has been working to sell its hospitals.
Earlier this year, Dallas-based Tenet Healthcare also agreed to sell its 70% majority ownership interest in Birmingham, Ala.-based Brookwood Baptist Health to Orlando Health. That deal closed on Oct. 1, according to the release.
Orlando Health, a nonprofit health system, has total assets of $12 billion.