Boca Regional in merger talks with BaptistHealth

Hospital would join largest S. Fla. network

Boca Raton Regional Hospital announced Thursday it is entering into “strategic partnership” discussions with BaptistHealth South Florida. If the talks are successful, the Palm Beach County facility would join the region’s largest hospital network.

“While this was a most difficult choice, one that was between two of the finest healthcare providers in the country, our Trustees believe Baptist is the best fit for Boca Regional,” Jerry Fedele, the hospital’s CEO and president, said in a statement.

The hospital, which has 400 beds and employs 2,200 people including 800 physicians, said its board and a special committee spent the last year vetting a dozen candidates that could serve as a partner. It did not identify the institutions. Among other things, the hospital said it was looking to “mitigate the challenges of standalone organization” and gain “greater access to capital.”

“It is important to underscore that if this initiative reaches fruition and Boca Regional joins Baptist, we as an entity will survive post- partnership,” said Thomas Chakurda, vice president of marketing, in an emailed statement. “It will be a partnership that respects our medical staff models and relationship with Florida Atlantic University in academic medicine, recognizes the importance and magnitude of our volunteer program, the extraordinary philanthropic support we receive and retains meaningful local governance and influence.”

Chakurda said the prospective combination would not be a purchase by BaptistHealth. “We are looking to effect a relationship to join a larger system and realize the benefits,” he said.

Founded in 1967, the hospital serves the northern tier of Broward County and half of Palm Beach County. For some specialty services, it draws patients from around the state. It considers its strengths to be oncology, the neurosciences, cardiovascular care, women’s health, orthopedics, emergency medicine and physical rehabilitation.

The hospital said the “next steps” in the process will include due diligence and the negotiation of a letter of intent “that would frame the completion of definitive agreements prior to Boca Raton Regional joining the Baptist organization.”

The two sides are looking to