Florida’s Winter Park Health Foundation expects to earn nearly $48 million from the sale of a hospital it owns in partnership with Columbia/HCA Healthcare Corp, the Orlando Business Journal reports.
“The sale of the hospital unleashes those dollars into active use,” says Patricia Ashmore, the foundation’s president.
Pending approval by federal regulators, Winter Park Memorial Hospital will be sold to Florida Hospital.
The foundation has completed a community health assessment to determine how the money should be spent in the tri-county area in Florida.
Ashmore predicts that some of the funds will be used to expand existing programs for school-age children and senior citizens. Funds also will support new projects whose goals are similar to existing programs.
The foundation will not hire additional staff or make any radical changes in the types of programs it supports, the Journal says.