In line with the purchase agreement reached in February earlier this year, the board of Health Central Hospital in Ocoee approved its sale to Orlando Health, Inc. (OHI), on Tuesday.
According to the agreement, The West Orange Healthcare District which owns the Ocoee hospital will receive $177 million from OHI over a 15-year period, the proceeds of which are to be plowed back into improving access to healthcare and other health-related services for West Orange residents, orlandosentinel.com reports.
Opened as the West Orange Memorial Hospital nearly 60 years ago, the hospital re-emerged as Health Central in 1993 on a 80-acre campus with 171 acute care beds and a wide range of healthcare services in a comprehensive medical center. With its approved sale to OHI, Health Central joins Central Florida’s fifth largest employer under the new entity, Orlando Health Central.
According to board documents, the sale of Health Central is expected to be completed no later than June 30, 2012.
