The St. Joe Company, Tallahassee Memorial HealthCare & the Florida State University College of Medicine Announce Their Intent...
April 08 2021 - 3:01PM
Business Wire
The St. Joe Company (NYSE: JOE) (“St. Joe”), Tallahassee
Memorial HealthCare, Inc. (“TMH”) and the Florida State University
College of Medicine (“FSU”) announce their intent to develop a
health care campus in Panama City Beach, Florida. The campus is
planned to be located on an 87-acre parcel near the intersection of
State Highway 79 and Phillip Griffitts Sr. Parkway, just minutes
from the Latitude Margaritaville Watersound community, the
55-and-better community which is planned for 3,500 homes.
The parties have executed a letter of intent to jointly plan and
develop the campus to initially include an ambulatory and urgent
care center. Future development plans include the construction of
an Emergency Center and 100-bed inpatient facility offering
services such as: gastroenterology, urology, gynecology, cardiology
and general surgery among others. The parties intend to create a
local fiduciary governance structure for the planned campus.
“Panama City Beach and the surrounding area have experienced
tremendous growth over the past several years. We anticipate that
trend to continue as more people discover that it is a year-round
destination and a great place to live,” said Jorge Gonzalez,
President and CEO of St. Joe. “Convenient access to quality health
care services is vital to the success of a growing region. The
creation of this planned health care campus will enhance the
quality of life for local residents and provide tremendous
opportunities for the entire region.”
“This planned health care campus is so exciting as it will allow
for a great opportunity for job creation in Panama City Beach and
Bay County,” said Mark Sheldon, Mayor of Panama City Beach. “I
would like to welcome TMH and FSU to the world’s most beautiful
beaches and I look forward to this asset for our citizens and
visitors alike.”
TMH currently serves 17 counties in Florida and Georgia. This
would be its first facility in Bay County. “High-quality health
care with a focus on wellness is a foundational component of an
active community,” said Mark O’Bryant, President and CEO of TMH.
“On behalf of Tallahassee Memorial, we are excited to work with St.
Joe and FSU on this monumental project. Together, we have the
opportunity to create an outstanding training and research platform
for the people of Northwest Florida.”
FSU intends to utilize the campus for research opportunities
focused on successful aging and senior living technology as well as
residency programs and educational rotations for its students and
students from FSU Panama City. “We are very pleased to work with
St. Joe and TMH to help create and support the health care future
for Panama City Beach and the surrounding area including the nearby
Latitude Margaritaville Watersound community,” said John P. Fogarty
M.D, Dean of the Florida State University College of Medicine.
“This is an exciting project that capitalizes on the ability of TMH
to provide cutting edge care and FSU to expand the educational and
research opportunities and to recruit the next generation of health
care providers to the region.”
The parties intend to break ground on the project as early as
2022.
Important Notice Regarding
Forward-Looking Statements
This press release contains “forward-looking statements,” within
the meaning of Section 21E of the Exchange Act, including
statements regarding St. Joe’s, TMH’s and FSU’s plans to develop a
health care campus in Panama City Beach, Florida, the anticipated
construction, development and timing plans for such health care
campus and prospective uses for the health care campus. These
forward-looking statements are qualified in their entirety by
cautionary statements and risk factors set forth in St. Joe’s
filings with the SEC, including its Annual Report on Form 10-K for
the year ended December 31, 2020 and subsequent current filings as
well as the following: (1) the ability of St. Joe, TMH and FSU to
collectively agree to definitive documentation with respect to the
development of the health care campus, (2) the ability of St. Joe,
TMH and FSU to successfully commence and complete the proposed
project or phases thereof within the anticipated timelines, or at
all, and (3) the interest of prospective users of the health care
campus.
About The St. Joe
Company
The St. Joe Company, together with its consolidated
subsidiaries, is a real estate development, asset management and
operating company. The Company owns land in Northwest Florida and
has significant residential and commercial land-use entitlements in
hand or in process. More information about the Company can be found
on its website at www.joe.com. More information on the Company’s
current project pipeline can be found at
www.joe.com/project-updates.
About Tallahassee Memorial HealthCare,
Inc.
Founded in 1948, Tallahassee Memorial HealthCare (“TMH”) is a
private, not-for-profit community healthcare system committed to
transforming care, advancing health, and improving lives with an
ultimate vision to elevate the standards of healthcare practice,
quality and innovation in the region. Serving a 17-county area in
North Florida and South Georgia, TMH is comprised of a 772-bed
acute care hospital, a surgery and adult ICU center, a psychiatric
hospital, multiple specialty care centers, three residency
programs, 38 affiliated physician practices and partnerships with
Doctors’ Memorial Hospital, Florida State University College of
Medicine, UF Health, Weems Memorial Hospital and Wolfson Children’s
Hospital. For more information, visit www.tmh.org.
About the Florida State University
College of Medicine
The Florida State University College of Medicine was founded in
2000 with a mission to educate and develop exemplary physicians who
practice patient-centered health care, discover and advance
knowledge, and are responsive to community needs, especially
through service to elder, rural, minority and underserved
populations.
©The St Joe Company 2021. “St. Joe®”, “JOE®”, the “Taking
Flight” Design®, “St. Joe (and Taking Flight Design) ®” and
“Watersound®” are registered service marks of The St. Joe Company
or its affiliates.
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version on businesswire.com: https://www.businesswire.com/news/home/20210408005892/en/
St. Joe Investor Relations Contact: Marek Bakun Chief Financial
Officer 1-866-417-7132 marek.bakun@joe.com St. Joe Media Relations
Contact: Mike Kerrigan Corporate Director of Marketing
1-850-231-6426 mike.kerrigan@joe.com TMH Media Relations Contact:
Stephanie Derzypolski Vice President/Chief Communications Officer
1-850-431-5897 stephanie.derzypolski@tmh.com FSU Media Relations
Contact: Doug Carlson Director of Public Affairs and Communications
1-850-645-1255 doug.carlson@med.fsu.edu City of Panama City Beach
Media Relations Contact: Debbie Ward Communications Director
1-850-233-5100 debbie.ward@pcbfl.gov
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