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With FTC Review Complete, Baptist Health Care Now Clear To Acquire West Florida Hospital
Last night, Baptist Health Care (BHC) reached a major milestone in the planned acquisition of West Florida Hospital when the Federal Trade Commission (FTC) completed its review of the transaction.
After announcing plans to acquire West Florida Hospital in June, Baptist Health Care filed notice of the transaction with the FTC on July 25, as required by the Hart-Scott-Rodino (HSR) Act. BHC has worked closely with the FTC to provide it with the information required to conduct its review. The passing of 30 days since the HSR filing with no further action by the FTC means that BHC has been cleared to proceed with plans to acquire West Florida Hospital.
“We are pleased that, after thorough investigations, the FTC has cleared Baptist’s plans to acquire West Florida Hospital,” stated Al Stubblefield, president and CEO of Baptist Health Care. “We are currently performing due diligence reviews and developing plans for the transition and consolidation of West Florida Hospital, anticipated to be completed before the end of 2008.”
Stubblefield continued, “From the time we close, we anticipate it will take 12 – 18 months to fully implement the consolidation of the two hospitals. Throughout the process, we will continue to outline and communicate milestones along the way to keep you informed.”
Baptist Health Care will redefine health care excellence in Northwest Florida, while remaining a locally owned not-for-profit health care organization. Once the purchase is complete, residents of Northwest Florida and surrounding areas will have expanded access to more than 60 Baptist Health Care locations.
For more information about this exciting anticipated expansion, please browse this Web site or call (850) 434-4080.
The above is a general timeline that estimates the time it will take to implement the acquisition but is subject to change.
