August 30, 2014

Healthcare

What the Doctor Ordered in Pensacola?

Charlotte Crane | 9/1/2008
Al Stubblefield &staff
Combining is a choice between surviving and thriving, says Al Stubblefield.
[Photo: Jeffrey Camp]

For 10 years, Al Stubblefield, president and CEO of Baptist Health Care of Pensacola, has been trying to buy West Florida Hospital from Hospital Corporation of America. The move, in his view, would reduce the three-hospital town’s oversupply of hospital beds and provide a better location for Baptist’s main hospital, a 60-year-old facility in a downtown inner-city neighborhood.

The two hospital chains broke off discussions two years ago, but HCA contacted Stubblefield about resuming merger talks in December. In June, HCA agreed to sell West Florida for $245-million. The sale is expected to go through by year-end, hinging only on federal regulatory approval and securing tax-exempt bond financing, neither considered a problem.

West Florida Hospital
West Florida Hospital in Pensacola

HCA isn’t commenting on its about-face, although West Florida’s financial losses of $15 million in 2007 and $13 million in 2006 could be a factor. Occupancy at West Florida’s
531-bed hospital was 34% early this year; at 492-bed Baptist Hospital, it was 48%. Post-merger, Baptist plans to offer 600 beds between the two locations, potentially boosting occupancy to around 69%, putting it in line with that of Sacred Heart Hospital, its fellow Pensacola non-profit.

Baptist will spend $80 million for additions at its new main hospital campus. The current campus will focus on outpatient care, physician offices and expanded psychiatric services and also remain as corporate offices.

Baptist Health Care

» Employees: 5,500

» Net income (2007): $9.5 million

» Holdings: Four regional hospitals, at Pensacola, Jay, Gulf Breeze and Atmore (Ala.); Lake-view Center; majority of Andrews Institute; total of 60-plus facilities

» Acquisition adds: West
Florida Hospital and 11 satellite medical sites

Tags: Healthcare, Northwest

Digital Access

DIRECT DIGITAL ACCESS
Add digital to your current subscription, purchase a single ditgital issue, or start a new subscription to Florida Trend.

TABLE OF CONTENTS
An overview of the features and articles in this month's issue of Florida Trend.

ACCESS THIS ISSUE »

Florida Business News

Florida Trend Video Pick

Medical Students & Art
Medical Students & Art

Students from the University of Central Florida College of Medicine are combining their love of medicine with their love of the arts. One of the ways they are doing this is by bringing music into the hospital, in hopes of lifting patients' spirits. 

Earlier Videos | Viewpoints@FloridaTrend

Ballot Box

When will you retire?

  • Soon - within a year
  • 2-3 years from now
  • 4-6 years from now
  • 6-10 years from now
  • 10+ years from now
  • I can't envision retiring
  • Already retired!

See Results

Ballot Box
Subscribe