The University of Miami said it has bought Cedars Medical Center from HCA.

HCA said it sold the hospital for $260 million.

As of midnight Friday, the 560-bed facility will be called the University of Miami Hospital.

The sale has been in the works since March. In October, the UM Board of Trustees gave senior officials authority to complete the purchase.

"The creation of a university hospital environment enables us to provide the very best academic medical care to the people of South Florida and beyond," said Dr. Pascal J. Goldschmidt, senior vice president for medical affairs and dean of the Miller School of Medicine, in a news release. "With this new flagship hospital, our top-ranked physicians will forge a new era in University of Miami-delivered care. This academic medical center will become a true medical destination."

According to the state, Cedars had income of $987,254 and revenue of $190.3 million, 1,250 employees and a 52 percent occupancy rate in 2006. . More reading from South Florida Business Journal

Work on new downtown Miami bridges to begin soon

By Eric Kalis Week of September 14, 2006

The replacement of two bridges over the Miami River is set to begin this month, officials say.
Work on the Northwest 12th Avenue Bridge is scheduled to start Monday with the construction of a foundation. Meanwhile, the Northwest Fifth Street bridge replacement project is scheduled to start Sept. 30 with demolition of the bridge, said Hector Rodriguez, project manager.
For the Northwest 12th Avenue Bridge work, crews have begun assembling heavy equipment and materials near the bridge, said Patricia Burgher of the Florida Department of Transportation.
Florida Power & Light and BellSouth personnel are making pre-construction utility repairs, Ms. Burgher said, and department workers are cleaning and widening the street to accommodate the project. "Everything is moving according to the anticipated timetable," she said.
The 71-year-old existing bridge, about 150 feet long, is to be demolished in December 2007. The existing bridge will remain open while the replacement is being built, Ms. Burgher said.
The new bridge will be 110 feet wide, twice the width of the current bridge, with six traffic lanes and two control towers designed to resemble the Hindu temple at Seybold Canal. The project is estimated to cost $64 million in federal funds, and work is expected to be completed in late 2009. More reading from Miami Today News