Wuesthoff Health System Sold To Steward Health Care LLC, Deal Includes Sale of Hospital and Assets
By Space Coast Daily // February 16, 2017
BREVARD COUNTY, FLORIDA – Wuesthoff Health System (which consists of Wuesthoff Medical Center-Rockledge and Wuesthoff Medical Center-Melbourne) announced today it will soon become affiliated with Steward Health Care LLC through an acquisition agreement that includes the sale of the hospital and its associated assets.
A total of eight hospitals are being sold as part of the agreement: three in Ohio – Northside Medical Center in Youngstown, and Trumbull Memorial Hospital and Hillside Rehabilitation Hospital in Warren; two in Pennsylvania – Sharon Regional Health System in Sharon and Easton Hospital in Easton; and three in Florida – Wuesthoff Medical Center-Rockledge, Wuesthoff Medical Center-Melbourne and Sebastian River Medical Center in Sebastian.
Steward Health Care is a physician-led integrated health care services organization and community hospital network with a record of success in improving patient care. Steward operates a network of nine community hospitals in eastern Massachusetts, along with Steward Medical Group (800+ physicians) and the closely-knit Steward Health Care Network (3,000 physicians).
Through their successful and nationally recognized Accountable Care Organization (APO) model, Steward focuses on integrated care to keep patients healthier.
“Our hospital plays a crucial role in providing convenient and quality health care for our Brevard County patients,” said Andy Romine, who was appointed interim chief executive officer of Wuesthoff Medical Center-Rockledge at the end of December 2016.
“Steward Health Care will help us maintain our critical position as an anchor institution and employer in the community.”
The purchase agreement includes a commitment from Steward Health Care to offer employment to all active employees in good standing when the transaction is complete. Privileges will continue for all physicians in good standing on the medical staff.
“We are looking forward to affiliating with Wuesthoff Health System,” said Steward Executive Vice President for Physician Services Michael Callum, MD.
“We think our community-based model of providing the highest quality of care in a local setting is an exceptional fit with the high level of care and community support that Wuesthoff Health System has been providing. We look forward to continuing and furthering that strong community focus and we are excited to work with hospital leaders in the coming months to ensure a smooth transition for Wuesthoff Health System staff and patients.”
The transaction is expected to close in the second quarter of this year, subject to customary regulatory
approvals and closing conditions.
Until the transaction is complete, current ownership remains in place.
About Steward Health Care
Steward Health Care is the largest fully integrated health care services organization and community hospital network in New England. Headquartered in Boston, Steward is one of the five largest employers in Massachusetts with more than 17,000 employees in more than 150 communities. Steward is comprised of Steward Medical Group, Steward Health Care Network, and Steward Hospital Group. Steward Medical Group provides approximately 1 million patient encounters per year at 152 sites and manages homecare and hospice with 300,000 and 35,000 encounters respectively. Steward Health Care Network, a fully integrated care management company, has 3,000 physicians, with approximately 4 million patient encounters per year and affiliates or joint ventures with approximately 30 urgent care centers. Steward’s Hospital Group includes Norwood Hospital, Saint Anne’s Hospital in Fall River, St. Elizabeth’s Medical Center in Brighton, Carney Hospital in Dorchester, Good Samaritan Medical Center in Brockton, Nashoba Valley Medical Center in Ayer, Holy Family Hospital in Haverhill and Methuen,
Morton Hospital in Taunton, and New England Sinai Hospital in Stoughton.
Additional information is available at www.steward.org