Pair of Charlotte County hospitals sold for $265 million

A pair of Charlotte County hospitals are headed toward being under new ownership. 

AdventHealth, a faith-based nonprofit system based in Altamonte Springs, has entered into an agreement to acquire ShorePoint Health Port Charlotte and certain assets of ShorePoint Health Punta Gorda from Tennessee-based publicly traded hospital operator Community Health Systems for $265 million. ShorePoint Health Port Charlotte has 254 beds. ShorePoint Health Punta Gorda, due to Hurricane Helene and Hurricane Milton, has indefinitely suspended inpatient operations.

The transaction, according to a statement, also includes related businesses, including physician clinic operations, outpatient services and ShorePoint Health Emergency Department in Cape Coral.

The transaction is expected to close by the end of the first quarter of next year, subject to regulatory approvals and closing conditions. In the meantime, AdventHealth and affiliates of CHS are committed to working together to ensure a smooth transition for team members, physicians and consumers, the release states.

“We are excited about the opportunity to bring whole-person care to these communities and look forward to partnering with the dedicated team members and physicians to meet the growing health care needs of Southwest Florida,” AdventHealth President and CEO Terry Shaw says in the release. 

ShorePoint Health Port Charlotte opened in 1962 and has had multiple owners in the ensuing decades. ShorePoint Health Punta Gorda opened in 1947 under the name Charlotte Hospital, according to a history of the facility on its website. It also has had multiple owners, including the Seventh-day Adventist Church in the 1970s. 

The ShorePoint Health brand had a presence in south Sarasota County, with ShorePoint Health Venice — formerly Venice Regional Bayfront. ShorePoint shuttered that facility in late 2022. 

The CHS-AdventHealth deal comes a few days after the news that hospital giant HCA Healthcare is buying Lehigh Regional Medical Center in Lee County from Prime Healthcare Services.