Orlando, FL (January 2, 2013) - Orlando Health's acquisition of Physician Associates was complete effective January 1, 2013. The transaction includes Orlando Health's purchase of two legal entities owned by Physician Associates; the professional practice and a management services organization.
Physician Associates will continue to operate as a for-profit entity much as it does today in collaboration with Orlando Health. For patients of Physician Associates, there will be no detectible changes. Patients' doctors, offices, benefits, co-pays, or other out-of-pocket expenses will remain the same.
"We wanted to make certain that with this acquisition, patients of Physician Associates continued to receive the same great level of care as they had prior to the purchase," said Erik Walker, M.D., Chairman of the Board of Directors of Physician Associates. "We have achieved that goal and, in the process, enhanced the care Physician Associates patients who require hospitalization at an Orlando Health facility will receive."
Physician Associates and Orlando Health have been collaborating on a number of initiatives to enhance patient care for over a year. In September of 2011 the two organizations announced the implementation of joint programs to address the four most common chronic diseases facing our patients: diabetes, hypertension, congestive heart failure, and chronic obstructive pulmonary disease (COPD). Since its launch, the program has helped better manage the symptoms of patients who suffer from these ailments, which in turn has helped these patients avoid repeat visits to the hospital. When they have had to be hospitalized, the collaboration has resulted in better continuity of care between the patient's doctor and the hospital.
"As healthcare transitions from an industry that responds only to illness, to one that proactively manages chronic conditions, encourages healthy lifestyles, and fosters wellness, this acquisition positions both organizations for the future," said Wayne Jenkins, MD, president of Orlando Health Physician Partners, the Orlando Health division that administers physician relations, education, alignment and quality. "This acquisition will expedite that process, making the transition faster and smoother so patients benefit."
About Orlando Health
Orlando Health is a $1.9 billion not-for-profit health care organization and a community-based network of hospitals and care centers throughout Central Florida. The organization, which includes the area's only Level One Trauma Centers for adults and pediatrics, is a statutory teaching hospital system that offers both specialty and community hospitals. They are: Orlando Regional Medical Center; Arnold Palmer Hospital for Children; Winnie Palmer Hospital for Women & Babies; Dr. P. Phillips Hospital; South Seminole Hospital; Health Central Hospital, South Lake Hospital (50 percent affiliation); St. Cloud Regional Medical Center (20 percent affiliation) and MD Anderson Cancer Center Orlando - the first affiliate of one of the nation's premier cancer centers, The University of Texas MD Anderson Cancer Center in Houston. Orlando Health's areas of clinical excellence are heart and vascular, cancer care, neurosciences, surgery, pediatric orthopedics and sports medicine, neonatology, and obstetrics and gynecology.
Orlando Health is one of Central Florida's largest employers with nearly 16,000 employees and more than 2,500 affiliated physicians supporting our philosophy of providing high quality care and service that revolves around patients' needs. We prove this everyday with over 110,000 inpatient admissions and nearly 690,000 outpatient visits each year. In all, Orlando Health serves 1.6 million Central Florida residents and nearly 3,000 international patients annually. Additionally, Orlando Health provides approximately $239 million in support of community health needs. More information can be found at www.orlandohealth.com.