Decision Marks Important Next Step in Affiliation Process
MIAMI/BOCA RATON, FL – December 10, 2018 – Baptist Health South Florida and Boca Raton Regional Hospital
today announced that they have reached an agreement on a formal Letter
of Intent regarding a strategic partnership between the respective organizations.
This development marks an important step forward in structuring an agreement
that would finalize the affiliation.
“We are most pleased to have achieved this milestone in our discussions
with such a prestigious and high-quality healthcare organization,”
said Jerry Fedele, President and CEO of Boca Raton Regional Hospital.
“It is an exciting development for our Hospital and our community
and reflects the hard work and thoughtful interactions of our Ad Hoc Partnership
Steering Committee, our Board and Baptist Health leadership.”
Baptist Health is the largest not-for-profit healthcare organization in
the region with 10 hospitals and more than 100 physician and outpatient
locations from Palm Beach County to the Florida Keys.
“Like Baptist Health, Boca Raton Regional Hospital is a top-ranked
organization with a not-for-profit mission and commitment to providing
high-quality compassionate care. We are confident that the synergies between
our organizations will allow us to better serve our communities and increase
access to affordable, high quality care for our patients,” said
Brian E. Keeley, President and CEO of Baptist Health.
A Letter of Intent essentially serves as an “agreement to agree”
between two parties, clarifies key points in the relationship and is considered
as an announcement that the two entities are moving forward in reaching
a Definitive Agreement. It is expected that a Definitive Agreement between
Boca Raton Regional Hospital and Baptist Health will be executed by early
2019 and the affiliation is expected to be finalized by summer.
Boca Raton Regional Hospital first announced its intent to seek a strategic
partner in 2017. Given the growing demand for its services, along with
the Hospital’s programmatic and facility expansion and financial
performance, it was thought to be an opportune time to seek a partner
that would help it sustain and build upon its commitment to accessible,
affordable and high-quality care delivery throughout the region. “Our
goal was to use our success in recent years to attract other providers
and establish a partnership that would enhance our capabilities and mitigate
the challenges of a stand-alone hospital in a complex and evolving healthcare
industry,” said Fedele.
After issuing a Request for Proposal and receiving responses from some
of the nation’s foremost healthcare systems, Boca Regional narrowed
its list of suitors to five in the spring of 2018 and then selected Baptist
Heath South Florida for further discussions.
“We have now advanced closer to a most important evolution for our
Hospital, one that will accelerate and elevate our position as a preeminent
academic regional referral medical center,” said Christine E. Lynn,
Boca Raton Regional Hospital Board Chair. “It will serve to secure
both our goals and objectives and those of Baptist Health South Florida.”
About Boca Raton Regional Hospital – Advancing the boundaries of medicine.
Boca Raton Regional Hospital is an advanced, tertiary medical center (BRRH.com)
with 400 beds, 2,800 employees and more than 800 primary and specialty
physicians on staff. The Hospital is a recognized leader in Oncology,
Cardiovascular Disease and Surgery, Minimally Invasive Surgery, Orthopedics,
Women’s Health, Emergency Medicine and the Neurosciences, all of
which offer state-of-the-art diagnostic and imaging capabilities. The
Hospital is a designated Comprehensive Stroke Center by the Florida Agency
for Health Care Administration (AHCA). BRRH is recognized in U.S. News
& World Report’s 2018 – 2019 Best Hospitals listing as
a Top Ranked Regional Hospital, for the fourth consecutive year, and the
highest ranked hospital in Palm Beach County.
About Baptist Health South Florida
Baptist Health South Florida is the largest healthcare organization in
the region, with 10 hospitals (Baptist Hospital, Baptist Children’s
Hospital, Bethesda Hospital East, Bethesda Hospital West, Doctors Hospital,
Fishermen’s Community Hospital, Homestead Hospital, Mariners Hospital,
South Miami Hospital and West Kendall Baptist Hospital), more than 40
physician practices, 50 outpatient and urgent care facilities, Baptist
Health Medical Group, Baptist Health Quality Network and internationally
renowned centers of excellence spanning across Monroe, Miami-Dade, Broward
and Palm Beach counties. A not-for-profit organization supported by philanthropy
and committed to our faith-based charitable mission of medical excellence,
Baptist Health has more than 19,500 employees and more than 3,000 affiliated
physicians. Baptist Health South Florida has been recognized by Fortune
as one of the 100 Best Companies to Work For in America and by Ethisphere
as one of the World’s Most Ethical Companies. For more information,
visit http://BaptistHealth.net/newsroom and connect with us on Facebook
at facebook.com/BaptistHealthSF and on Twitter and Instagram @BaptistHealthSF.
Boca Raton Regional Hospital
Thomas Chakurda, 561.955.3586
Vice President, Marketing
Baptist Health South Florida
Dori Alvarez, 786.208.9986