NY investment firm pays $37M for Bethesda Health City

Investco Principal Brian Kelley and Bethesda Health City

The Bethesda Health City in Boynton Beach has been sold to New York
investment firm Investcorp International for $37 million, according to a
deed filed in Palm Beach County Circuit Court this past Friday.

The health complex is located at 10301 Hagen Ranch Road in Boynton
Beach.

Investcorp Principal Brian Kelley and attorney Eric Landau confirmed the
purchase, but declined to comment further.

Investcorp purchased the hospital through a Delaware-based LLC called
BHC Holdings.

Bethesda is in the midst of building a $130 million project, an 80-bed,
all-private room hospital set for opening in 2013. It will serve as a
satellite campus for Bethesda Memorial, which has a total of 401 beds.

It was that project that largely motivated the deal, said Bethesda Health System VP and COO Roger Kirk.

“We’re really putting all of our resources into building this second
hospital,” he said. “We’re excited about [Investcorp] coming in and
taking [Bethesda Health City] over and will continue to run that center,
so we’re excited about them staying in that.”