Florida State University\u00a0and the City of Tallahassee say\u00a0they\u2019ve\u00a0reached a\u00a0deal on the sale of Tallahassee Memorial Healthcare. \u00a0<\/p>\n
The Tallahassee City Commission voted 3-2 in October for city staff to\u00a0enter into negotiations,\u00a0though talks had been ongoing at the time.\u00a0FSU President Richard McCullough announced the\u00a0tentative\u00a0terms\u00a0Tuesday.<\/p>\n
\u00a0In an email to university employees, he said FSU\u00a0will pay Tallahassee\u00a0$109 million over 30 years for the hospital\u2019s property and assets. The\u00a0school\u00a0will also commit\u00a0$100 million to facility upgrades and\u00a0$150 million to improvements for clinical and academic purposes over the next 10 years.\u00a0<\/p>\n
\u201cThis pending agreement is the result of positive collaboration with the\u00a0City\u00a0and a shared vision for the future of health care, education, and research in our region,\u201d McCullough said in a release announcing the MOU.\u00a0<\/p>\n
The deal\u00a0is\u00a0not yet\u00a0finalized. It must be approved by the Tallahassee City Commission.\u00a0<\/p>\n
“This agreement charts a bold, transformative path forward,\u201d said Mayor John Dailey in a press release from the city backing the move.\u00a0
\u201cThanks to the dedication of professionals who refuse to accept the status quo, the future of healthcare in Tallahassee will be better. By aligning our hospital with one of the state’s premier universities to create an academic health center, we are redefining healthcare in a way that positively impacts the lives of residents locally and across the\u00a0region.”\u00a0<\/p>\n
The potential\u00a0TMH\u00a0sale\u00a0has been the subject of at times heated debate over the past several months. One of the loudest critics of the deal has been Tallahassee City Commission Jeremy Matlow. When asked about the announcement, he said he does not think the sale price is high enough.\u00a0<\/p>\n
\u201cWhat’s being proposed is only $109 million at zero interest over 30 years, so the public that owns that hospital will only receive just over $3 million a year.\u00a0I think\u00a0that’s\u00a0just\u00a0that’s\u00a0a bad use of public assets, and we need to make sure that people\u00a0who own the hospital get what\u00a0it’s\u00a0worth so we can reinvest that money into our community,\u201d Matlow said.\u00a0<\/p>\n
Tallahassee Commissioner Curtis Richardson said he\u2019s glad they came to terms, as he says it will improve healthcare in the region.<\/p>\n
\u201cI hope that this will encourage FSU and TMH now to finalize their agreement so that we can move forward with making this happen,\u201d he said.<\/p>\n
A request for comment is pending with Tallahassee Commissioners Dianne Williams-Cox, and Jack Porter.\u00a0<\/p>\n
Reports\u00a0of\u00a0a potential sale\u00a0of TMH to FSU being in the works\u00a0emerged\u00a0in March 2025. A final public hearing will likely be scheduled in early 2026.<\/p>\n","protected":false},"excerpt":{"rendered":"Florida State University\u00a0and the City of Tallahassee say\u00a0they\u2019ve\u00a0reached a\u00a0deal on the sale of Tallahassee Memorial Healthcare. \u00a0 The…\n","protected":false},"author":2,"featured_media":85789,"comment_status":"","ping_status":"","sticky":false,"template":"","format":"standard","meta":{"footnotes":""},"categories":[16],"tags":[232,234,233],"class_list":["post-85788","post","type-post","status-publish","format-standard","has-post-thumbnail","category-tallahassee","tag-tallahassee","tag-tallahassee-headlines","tag-tallahassee-news"],"_links":{"self":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/85788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/users\/2"}],"replies":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/comments?post=85788"}],"version-history":[{"count":0,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/posts\/85788\/revisions"}],"wp:featuredmedia":[{"embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media\/85789"}],"wp:attachment":[{"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/media?parent=85788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/categories?post=85788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/www.newsbeep.com\/us-fl\/wp-json\/wp\/v2\/tags?post=85788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}