Kaufman Hall advises Adventist Health System on Potential Acquisition of Bayfront Health Dade City
SKOKIE, Ill. – December 5, 2017 –
Adventist Health System recently signed a definitive agreement to purchase Bayfront Health Dade City (Bayfront Health) hospital and its related outpatient services from Community Health Systems, Inc. (CHS).
The transaction is expected to be completed in the first quarter of 2018, and once official, the facility will join the West Florida Division of Adventist Health System.
Kaufman Hall is serving as the exclusive financial advisor to Adventist Health System, and provided comprehensive financial analysis and strategic counsel to help the Adventist Health leadership team evaluate the potential acquisition and advance the opportunity.
Headquartered in Altamonte Springs, Florida, Adventist Health System currently consists of 46 facilities in 9 states with 80,000 employees.
Bayfront Health, located in Dade City, Florida, is a 120-bed acute care hospital and one of seven hospitals owned by CHS in the Tampa Bay area. CHS, headquartered in Franklin, Tennessee, is one of the largest publicly traded hospital companies in the United States. Through its subsidiaries, it owns, leases, or operates 127 affiliated hospitals in 20 states.
“We are excited about the opportunity to offer advanced health care services in Dade City that match the needs of the community and deliver the Florida Hospital brand of inspired, whole-person care,” said Mike Schultz, president and CEO of the Adventist Health System West Florida Division. “Bayfront Health is a valuable asset to Dade City and its residents, and we want to continue the long history of providing essential care in that facility.”
As value-driven population healthcare takes hold, the most sought-after health systems will be those that can offer superior quality, access, and patient experience and loyalty at an efficient cost for a full or partial continuum of services within a region. Kaufman Hall’s M&A experts have identified eight steps healthcare leaders need to be vigilant about throughout the acquisition process in order to find an optimal strategic partner.
The due diligence and discovery process continues in order to allow for both Adventist Health System and Community Health Systems to best plan for the future of Bayfront Health Dade City.
“Finding a partner to allow a seamless medical care experience for our patients is important,” said Linda Stockton, chief executive officer of Bayfront Health, “and Florida Hospital can bring their experience to build on our history of service and success.”
The transaction is subject to customary regulatory approvals.
Earlier this year, Kaufman Hall served as exclusive financial advisor to PinnacleHealth System on the acquisition of four central Pennsylvania acute care hospitals from CHS. Learn more about this transaction here.
To learn more about how Kaufman Hall is assisting healthcare organizations with mergers, acquisitions, and other strategic partnerships, contact Jim Blake or Courtney Midanek at 847.441.8780.
About Kaufman Hall
Kaufman Hall provides management consulting and software to help organizations realize sustained success amid changing market conditions. Since 1985, Kaufman Hall has been a trusted advisor to boards and executive management teams, helping them incorporate proven methods into their strategic planning and financial management processes, and quantify the financial impact of their plans and strategic decisions to consistently achieve their goals.
Kaufman Hall services use a rigorous, disciplined, and structured approach that is based on the principles of corporate finance. The breadth and integration of Kaufman Hall advisory services are unparalleled, encompassing strategy; financial and capital planning; cost transformation; treasury and capital markets management; and mergers, acquisitions, partnerships, and joint ventures.
Kaufman Hall’s Axiom Software provides sophisticated, flexible performance management solutions that empower finance professionals to analyze results, model the future, and optimize organizational decision making. Solutions for long-range planning, budgeting and forecasting, reporting and analytics, consolidations, capital planning, and profitability and cost management are delivered on a single integrated software platform. Kaufman Hall’s Peak Software empowers healthcare organizations with clinical benchmarks, data, and analytics to provide a higher quality of care for optimized performance and improved patient outcomes.