TAMPA - Three local community hospitals are being sold to HCA Healthcare, the state's largest hospital chain.
The addition of Memorial Hospital in South Tampa, Town & Country Hospital and Palms of Pasadena Hospital will bring to 19 the number of HCA West Florida facilities, the company said in its announcement released late Thursday.
Once the deal is complete, the for-profit company will operate 42 hospitals across Florida.
Memorial, Town & Country and Palms have been owned by IASIS Healthcare, a 19-hospital, for-profit network based in Tennessee. Combined, the three facilities have a 691-patient-bed capacity.
Financial terms of the HCA deal were not released, but officials said the sales should be complete by the end of the year.
The announcement is just the latest in a series of Tampa-area hospital sales and mergers, all designed to buffer major shifts in the way that hospitals and physicians are reimbursed for treatment. The new national health care reform law shifts the way insurers and the government reimburse, from a fee for individual treatment model to a system that requires hospitals, doctors and others to share a flat fee for a patient's overall care.
Last week, Tampa General Hospital and HCA were among the bidders trying to take over the financially troubled Citrus Memorial Hospital. Baycare Health System, the Tampa-area's largest hospital group, continues to finalize a merger with Winter Haven Hospital. It is also consolidating some operations with the independently owned Sarasota Memorial Hospital. And the University of South Florida Health system is hoping to merge its operations with Lakeland Regional Medical Center.