Orlando Health bidding for 3 Central Florida hospitals whose current owner has filed for bankruptcy
Stream FOX 35 News
ORLANDO, Fla. - Orlando Health is seeking to buy three hospitals in Brevard and Indian River counties as part of the bankruptcy of hospital operator Steward Health Care, according to a court document filed last week.
A proposed agreement said Orlando Health would pay $439.4 million in cash for Melbourne Regional Medical Center, Rockledge Regional Medical Center, and Sebastian River Medical Center. However, the amount could be adjusted based on several factors.
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Orlando Health is designated as a "stalking horse bidder," which sets an initial bid in bankruptcy cases. According to the document filed in the U.S. Bankruptcy Court in the Southern District of Texas, other potential buyers of the Brevard and Indian River hospitals face an Aug. 26 deadline for submitting bids.
Dallas-based Steward Health Care filed for Chapter 11 bankruptcy in May. Melbourne Regional Medical Center and Rockledge Regional Medical Center are in Brevard County, while Sebastian River Medical Center is in Indian River County.
In addition to those hospitals, Steward owns Coral Gables Hospital, Hialeah Hospital, North Shore Medical Center and Palmetto General Hospital in Miami-Dade County and Florida Medical Center in Broward County;