Tampa General Hospital Expands its Reach with Acquisition of Three Bravera Health Hospitals
In a strategic move to bolster its presence in the healthcare landscape, Tampa General Hospital has recently announced its agreement to purchase three Bravera Health hospitals located north of Tampa for a substantial sum of $290 million.
The three hospitals in question, situated in Brooksville, Crystal River, and Spring Hill, are currently owned by Community Health Services (CHS). Following the sale’s closure, CHS will no longer have any hospitals or clinics operating in the Tampa Bay area. Instead, the company will focus on its seven hospitals in the Panhandle, Southwest Florida, and the Keys. This move follows a trend seen since 2016, where CHS has been streamlining its operations by selling hospitals to concentrate on regional hubs, as reported by Healthcare Dive in 2018. The first quarter of 2023 saw CHS reporting a net loss of $51 million attributable to shareholders.
On the other hand, the acquisition represents a significant investment for Tampa General Hospital. Known for owning more than 100 properties across Florida, the hospital’s flagship facility is a 1,040-bed hospital located on Davis Islands in Tampa. Moreover, they hold substantial assets such as a 130,000-square-foot health complex in Brandon and a rehabilitation hospital on Kennedy Boulevard, which recently expanded to include a 15,000-square-foot emergency center.
Tampa General’s portfolio also includes a range of specialized clinics, surgery facilities, urgent care centers, and cancer centers scattered across Tampa Bay, as well as some properties in South Florida and Fort Myers. The hospital has a strong partnership with the University of South Florida’s Morsani College of Medicine, with the college having its own building on the Davis Islands campus.
Through this acquisition, Tampa General will add 372 beds to its network. The Bravera hospitals, which currently offer services such as cancer treatment, surgeries, primary care, and rehabilitation, will complement Tampa General’s existing offerings and contribute to strengthening its position in the region’s healthcare market.
While the deal is set to close later this year, a spokesperson for Tampa General has stated that the company will reserve comments on the sale until the transaction is completed.
Tampa General Hospital’s decision to acquire three Bravera Health hospitals showcases its commitment to expanding its healthcare services and influence in the region. With this strategic move, Tampa General is poised to further enhance its position as a leading healthcare provider in Florida, offering quality medical care to a broader patient base.