Adventist Health System/Sunbelt, Inc., which owns Florida Hospital, has purchased two parcels of real estate in Winter Garden which evidently it plans to use for new medical facilities.
The purchase has caused some ripples in the Orlando real estate community because some people believe the local market is saturated when it comes to healthcare facilities. Building more healthcare capacity could cause some market consequences that not everyone would welcome.
All told, Adventist paid $11.85 million for just over 58 acres of land near Stoneybrook West Parkway and Vineland Road.
Although plans are still far from firm (Adventist would need state approval to build a facility here, since Orlando Health's Health Central hospital is just seven miles north), it is believed that Adventist would build a facility that has two floors of emergency services topped by doctor's offices. Estimates for size range from 75,000 to 90,000 square feet.
Analysts are somewhat divided in their opinion of Florida's healthcare industry. It is well-known that Florida has a significant population of elderly people, and that translates into a high demand for medical services. Some people wonder, though, whether we are overbuilding and whether there will be too much healthcare capacity for too few people once this generation of elderly people passes on.
Source: Orlando Sentinel, "Hospital closes on Winter Garden site," Mary Shanklin, Jan. 6, 2013
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