TGH Spring Hill is a

non-profit hospital A non-profit hospital is a hospital that does not make profits for owners of the hospital from the funds collected for patient services. The owners of non-profit hospitals are often a charitable organization or non-profit corporations. Fees for se ...

Spring Hill, Florida Spring Hill is a census-designated place (CDP) in Hernando County, Florida, United States. The population was 113,568 at the 2020 census, up from 98,621 at the 2010 census. Spring Hill belongs to Florida's Nature Coast region and is in the ...

, United States owned by

Tampa General Hospital Tampa General Hospital (TGH) is a 1,040-bed non-profit hospital, tertiary, research and academic medical center located on Davis Island in Tampa, Florida, servicing western Florida and the greater Tampa Bay region. TGH is one of the region's ...

. It was purchased from

Community Health Systems Community Health Systems (CHS) is a Fortune 500 company based in Franklin, Tennessee. It was the largest provider of general hospital healthcare services in the United States in terms of number of acute care facilities. In 2014, CHS had around 2 ...

in July 2023.

History

Regional Healthcare Inc. had Spring Hill Hospital built and equipped for $22 million. In October 1991, Spring Hill Hospital opened with 75

bed A bed is a piece of furniture that is used as a place to sleep, rest, and relax. Most modern beds consist of a soft, cushioned mattress on a bed frame. The mattress rests either on a solid base, often wood slats, or a sprung base. Many beds ...

s. This

business venture Venture capital (VC) is a form of private equity financing provided by firms or funds to start-up company, startup, early-stage, and emerging companies, that have been deemed to have high growth potential or that have demonstrated high growth in ...

failed, forcing Regional Healthcare Inc. to file for

bankruptcy Bankruptcy is a legal process through which people or other entities who cannot repay debts to creditors may seek relief from some or all of their debts. In most jurisdictions, bankruptcy is imposed by a court order, often initiated by the deb ...

. In late May 1998, a bankruptcy judge approved the acquisition of Regional Healthcare Inc. by Health Management Associates. Also the hospital network signed a thirty-year

lease A lease is a contractual arrangement calling for the user (referred to as the ''lessee'') to pay the owner (referred to as the ''lessor'') for the use of an asset. Property, buildings and vehicles are common assets that are leased. Industrial ...

with Hernando County for Spring Hill Regional Hospital. Health Management Associates paid off $78 million of

debt Debt is an obligation that requires one party, the debtor, to pay money Loan, borrowed or otherwise withheld from another party, the creditor. Debt may be owed by a sovereign state or country, local government, company, or an individual. Co ...

owned by Regional Healthcare Inc. to its

creditor A creditor or lender is a party (e.g., person, organization, company, or government) that has a claim on the services of a second party. It is a person or institution to whom money is owed. The first party, in general, has provided some propert ...

s. It also paid Hernando County $300,000 each year in rent and it spent $25 million to make improvements on Brooksville Regional Hospital, Spring Hill Regional Hospital and PineBrook Regional Medical Center. On June 3, Health Management Associates announced that it had finished its acquisition of Regional Healthcare Inc. In late June 2013, Spring Hill Hospital was

rebranded Rebranding is a marketing strategy in which a new name, term, symbol, design, concept or combination thereof is created for an established brand with the intention of developing a new, differentiated identity in the minds of consumers, investors ...

by Health Management Associates to Bayfront Health Spring Hill. On July 30, Community Health Systems agreed to purchase Health Management Associates for $7.6 billion. On January 24, 2014, the

Federal Trade Commission The Federal Trade Commission (FTC) is an independent agency of the United States government whose principal mission is the enforcement of civil (non-criminal) United States antitrust law, antitrust law and the promotion of consumer protection. It ...

approved the merger of Health Management Associates with Community Health Systems. On December 1, 2021, Bayfront Health Spring Hill rebranded to Bravera Health Spring Hill. On July 24, 2023, Community Health Systems announced that Tampa General Hospital would purchase Bravera Health Spring Hill and two other Bravera Health hospitals for $290 million. It was later adjusted to $294 million. On December 1, Tampa General Hospital officially took over the

management Management (or managing) is the administration of organizations, whether businesses, nonprofit organizations, or a Government agency, government bodies through business administration, Nonprofit studies, nonprofit management, or the political s ...

of Bravera Health. Bravera Health Spring Hill was rebranded to TGH Spring Hill and will be part of the TGH North division.

References

{{reflist 1991 establishments in Florida 1998 mergers and acquisitions 2014 mergers and acquisitions 2023 mergers and acquisitions Buildings and structures in Hernando County, Florida Hospital buildings completed in 1991 Hospitals established in 1991 Hospitals in Florida

History

See also

References