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{{current}}An '''expansion of [[Baptist Health Care]]''' (initially known as '''Project Argonaut''') was announced on [[June 26]], [[2008]], that includes included the purchase of [[West Florida Hospital]] for $245 million (subject to federal approval) and approximately $85 million in new construction. The expansion was intended to be completed within a few months, with an agreed upon deadline of [[December 31]].

The organization signed an asset purchase agreement with {{cquote|This acquisition will enhance the best of both organizations and provides for expansion of our services to meet the needs of our patients and the community. … We know the acquisition of West Florida's parent company, Hospital Corporation will allow us to continue our high standard of America (HCA), after which personal care while expanding services to serve the necessary regulatory approval was obtainedentire Northwest Florida region.|20px|20px|[[Al Stubblefield]], President/CEO of Baptist Health Care}}

Once the The organization signed an asset purchase is complete, the current agreement with West Florida 's parent company, Hospital on [[Davis Highway]] will become Corporation of America (HCA), after which the new [[Baptist Hospital]]necessary regulatory approval was obtained. However, supplementing the presence of frozen credit markets related to the [[Baptist Medical Park - Nine MileWikipedia:Subprime mortgage crisis|subprime mortgage crisis]] in north Pensacola. The campus will feature an expanded and [[Baptist Cancer CenterLate 2000s recession|recession]] in affiliation with prevented Baptist from obtaining the financing necessary to close the deal. According to a financial expert quoted by the Moffitt Cancer Institute; ''[[Baptist Neurosciences CenterPensacola News Journal]] complemented by '', "Baptist is pretty well leveraged. They have a substantial debt load, a rehab hospital for neurologic and orthopaedic conditions; lot of which comes from their financing the [[Baptist Heart & Vascular Center of ExcellenceAndrews Institute]]; and an expanded Emergency Department. The new Baptist "<ref name="dealoff">"Hospital also will offer a new parking garage and new physician office buildingsdeal off. Additionally" ''Pensacola News Journal'', Baptist Health Care will assume the current [[West Florida Hospital Primary Care Practices]] (nine neighborhood medical centers)January 1, creating the largest primary care network in the region2009.</ref>

{{cquote|This acquisition will enhance As late as October 2008, Baptist CEO [[Al Stubblefield]] remained confident that the best of both organizations expansion would move forward and provides for expansion of our services that Baptist was "well positioned to go to meet the needs bond markets by the end of our patients and this calendar year."<ref name="dealoff"/> However, as the deadline passed with no bonds issued, the communityexpansion will likely not take place. … We know  Had the purchase been completed, the acquisition of current West Florida Hospital will allow us to continue our high standard on [[Davis Highway]] would have become the new [[Baptist Hospital]], supplementing the presence of personal care while expanding services to serve [[Baptist Medical Park - Nine Mile]] in north Pensacola. The campus would have featured an expanded [[Baptist Cancer Center]] in affiliation with the entire Northwest Florida region.|20px|20px|Moffitt Cancer Institute; [[Baptist Neurosciences Center]] complemented by a rehab hospital for neurologic and orthopaedic conditions; [[Al StubblefieldBaptist Heart & Vascular Center of Excellence]]; and an expanded Emergency Department. The new Baptist Hospital would have also offered a new parking garage and new physician office buildings. Additionally, President/CEO of Baptist Health Care}}would have assumed the current [[West Florida Hospital Primary Care Practices]] (nine neighborhood medical centers), creating the largest primary care network in the region.

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