Gainesville, Fla.-based UF Health will acquire Central Florida Health, a two hospital system in Leesburg, Fla.
Under the deal, Leesburg Regional Medical Center will be renamed UF Health Leesburg and the Villages Regional Hospital will become UF Health The Villages Hospital.
"We're looking forward to being able to offer additional depth and new alternatives for local residents requiring specialized care in areas where there is a growing community need, while also ensuring they are able to easily obtain primary care," said Don Henderson, CEO of Central Florida Health.
UF Health officials said over time they will consider facility improvements and technology upgrades for the acquired facilities.
The deal is expected to close early next year, pending regulatory reviews by the state.
Financial terms of the deal were not disclosed.
More articles on healthcare industry transactions:
Proposed mergers would combine 34 Louisiana hospitals
Private equity firm sets sights on Quorum Health
1,250 healthcare deals have been announced, completed this year