The deal is anticipated to be finalised by the conclusion of the first quarter of the coming year. Credit: sfam_photo/Shutterstock.

AdventHealth has announced a definitive agreement for the acquisition of ShorePoint Health Port Charlotte and certain ShorePoint Health Punta Gorda assets in Florida, US, from Community Health Systems (CHS) affiliates, for $265m in cash.

A full-service hospital, ShorePoint Health Port Charlotte provides life-cycle care while ShorePoint Health Punta Gorda remains closed due to hurricane damage.

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The transaction is subject to certain net working capital and other adjustments.

AdventHealth CEO and president Terry Shaw said: “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 healthcare needs of Southwest Florida.”

The deal also includes related businesses such as physician clinics, outpatient services, and an emergency department in Cape Coral.

Expected to conclude by the end of the first quarter of 2025, the acquisition is subject to closing conditions and customary regulatory approvals.

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AdventHealth and CHS affiliates plan to collaborate to facilitate a seamless transition for employees, healthcare providers, and patients.

This deal is one of the further possible divestitures mentioned during the company’s Q3 2024 earnings call and in later public engagements.

KeyBanc Capital Markets’ division Cain Brothers acted as the sole financial adviser to AdventHealth for this transaction.

ShorePoint Health CEO Andy Romine said: “Our ShorePoint family of providers, with its skilled physicians and compassionate employees, is a resource for safe, quality care in our communities, and becoming part of AdventHealth creates exciting possibilities for the future.”

Earlier this month, AdventHealth opened the AdventHealth Northdale ER in Tampa, Florida.

The $23m offsite emergency department is designed to improve care access for Hillsborough County residents. This development is in line with the organisation’s focus on whole-person care.