ST. PETERSBURG — Orlando Health officially completed its purchase of Bayfront Health St. Petersburg on Thursday, a step city officials and hospital employees said was a much-needed turning point.
The deal marks the first step into the Tampa Bay region for the nonprofit, a Florida health care giant with more than $6 billion in assets at about 450 locations. And though Orlando Health executives aren’t sharing specifics, they say their presence in the area will likely expand further.
Finances and patient care at Bayfront have suffered in recent years under Community Health Systems, a Tennessee-based company that had owned 80 percent of the 480-bed hospital since 2014. The other 20 percent, owned by the nonprofit Foundation for a Healthy St. Petersburg, was also sold to Orlando Health, giving the company complete control of the hospital.
Still, Orlando Health must continue serving as a “safety net” hospital, according to a lease