HCA Healthcare Inc (NYSE:HCA) announced recently that it has finalized its plans to purchase the Highlands Regional Medical Center located in Sebring, Florida, a subsidiary of Community Health Systems (NYSE:CYH). The agreement is expected to close soon, which will make the Hospital a part of HCA, a leading healthcare service provider across the US region.
The Highlands Regional Medical Center which is a 126-bed capacity located 75 miles down in the west of Fort Pierce will soon be owned by HCA’s East Florida Division. According to Sam Hazen, the president and chief operating officer at HCA, the addition of the new facility to the HCA’s healthcare network would help HCA to take care of more patients and harmonize the existing facilities into the East Florida region.
HCA is also looking forward to expanding the Highland’s Regional’s existing practices on their own to provide high-quality care. HCA East Africa will be the largest healthcare system in the whole region of eastern Florida. It covers over 14 healthcare facilities, numerous ambulatory surgery centers, imaging centers, the physician practices, and free standing emergency healthcare units. In addition, HCA has supply chain center and an inclusive regional lab.
HCA East Florida currently has over 15,000 workers and has more than 5,000 physicians as part of the workforce. Last month, HCA entered into an agreement to obtain Weatherford Regional Medical Center located in Fort Worth, Texas, also, a subsidiary of Community Health Systems.
The Weatherford Regional Medical Center has a capacity of 103 beds located 30 miles in western Fort Worth region. If the transactions are finalized, the hospital facility will become part of the HCA’s Medical City Healthcare located in Dallas-Fort Worth’s Metroplex. The additional resource will enable HCA to enhance their patients’ access to high-quality healthcare services across the Fort Worth region.
The two major transactions are currently subject to regulatory approvals and are expected to close before the end of the year. Community Health Systems has encountered a high level of long-term debt for a long time and is trying to implement several strategies including divesting its hospital facilities.