Sarasota (Fla.) Memorial Health Care System is investing $1 billion in capital projects to expand care access in the area it serves.
Sarasota Memorial broke ground on a $507 million hospital in North Port, Fla., in early November, which is expected to open in 2028. The 100-bed facility will eventually double capacity to 208 beds, according to a Jan. 30 news release shared with Becker’s.
The health system is working on expansion projects such as an $82.5 million inpatient rehabilitation facility at its SMH-Venice (Fla.) Campus that will begin construction this year. It also plans to open the Milman-Kover Cancer Pavilion on the SMH-Sarasota Campus this spring and is investing more than $50 million in radiology expansions and upgrades in both Sarasota and Venice.
“The capital projects are supported by strong and upgraded bond ratings from Moody’s Investors Service and Fitch Ratings,” the release said. “Similar to an individual’s credit score, strong bond ratings significantly lower the health system’s cost of borrowing for major capital improvements.”
The Sarasota County Public Hospital Board also said it approved up to $425 million in revenue bonds for 2026 to help cover capital projects.
Sarasota Memorial Health Care System is a community-owned health system that comprises two full-service hospitals, freestanding ERs, a rehabilitation hospital, a behavioral health hospital, a skilled nursing facility and a network of outpatient centers, urgent care clinics and physician practices.
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