A health group is buying five South Florida hospitals for $1.1 billion. Their new owner has strong regional ties.

Dallas-based Steward Health is purchasing North Shore Medical Center, Florida Medical Center, Coral Gables Hospital, Hialeah Hospital and Palmetto General Hospital from Tenet Healthcare Corp., which is also based in Dallas.

Steward, led by Cuban American and Floridian Dr. Ralph de la Torre, is among the largest physician-owned healthcare networks in the U.S., with more than 5,500 providers and 43,000 healthcare professionals. In addition to de la Torre, several of Steward’s senior leaders have close ties to South Florida. Dr. Octavio Diaz, Steward’s chief medical officer, previously practiced in South Florida and worked at several of the acquired facilities; while Rubén J. King-Shaw Jr., Steward’s Chief Strategy Officer, served as COO for Neighborhood Health Partnership before becoming Florida’s Secretary of the Agency for Health Care Administration under former Gov. Jeb Bush.

“As a Floridian with close family ties to the area, I am proud of Steward’s significant investment in the people of South Florida, whose tight-knit communities and vibrant diversity have always represented the very best of American culture,” de la Torre said in a statement.

Steward’s operations will be directed by Dr. Sanjay Shetty, president of Steward North America. The transaction is expected to close in the third quarter of this year.

Tenet’s ambulatory facilities, operated by United Surgical Partners International, will remain with Tenet and are not included in the transaction.


Source:  Miami Herald

Tenet Healthcare Corp. has signed a deal with the Hospital for Special Surgery (HSS) in New York to build an outpatient orthopedic care and surgery center near Tenet’s Good Samaritan Hospital in West Palm Beach.
Tenet’s ambulatory care services subsidiary, United Surgical Partners International, will form a joint venture with HSS, which operates a hospital in Manhattan and over a dozen of outpatient centers in New York, New Jersey and Connecticut. U.S. News & World Report has ranked Its hospital first in orthopedics for eight consecutive years, and third in rheumatology.

“Many Florida residents travel to HSS in New York for the highest-quality musculoskeletal care,” HSS President and CEO Louis A. Shapiro said. “We are delighted to be making that same top-quality care more convenient to communities in South Florida where quality of life is so highly prized.”

The new facility would be adjacent to Good Samaritan Hospital. Staffed by HSS physicians, it would offer diagnostic services, ambulatory surgery, rehabilitation and sports performance assistance.

“Being able to leverage the knowledge and expertise at HSS in the care of orthopedic and musculoskeletal conditions will enable us to create a new center of excellence for our patients,” Tenet Executive Chairman and CEO Ron Rittenmeyer said.

Tenet declined to say how large the facility would be or when it would break ground.
In 2015, Tenet filed plans with West Palm Beach to expand Good Samaritan, at 1309 N. Flagler Drive, by 64,982 square feet.
In 2016, Good Samaritan earned $11.9 million on revenue of $178.6 million, according to the Florida Agency for Health Care Administration. It had a bed occupancy rate of 37 percent – one of the lowest among South Florida hospitals.
Source: SFBJ