CCHB signs HCA hospital transaction

INVERNESS -- In the presence of the public and Hospital Corporation of America (HCA) President of West Florida Division Peter Marmerstein, the Citrus County Hospital Board of Trustees (CCHB) today signed the master agreement and lease agreement to transfer operations of the Citrus Memorial Hospital to the HCA.

“Today’s signing of the hospital transaction with HCA’s Peter Marmerstein culminates the past five years that the Board has worked to bring $315 million in positive economic impact on the long-term quality health care for our community,” said CCHB Chairwoman Debbie Ressler, BSN.

“This is the largest transaction in Citrus County history, and we are pleased that our community will be receiving a minimum of $150 million for the county over 50 years, a total elimination of the CCHB ad valorem tax – a savings of $75 million, and $45 million toward a community-wide charitable foundation,” said Ressler.

The CCHB now awaits the signing of the hospital transaction by the Citrus Memorial Health Foundation, as well as the review by various state and federal authorities.  The deal is expected to come to a close on October 31, 2014.

The CCHB invites the public to continue to stay informed of this process by visiting and following @CareforCitrus.