Sarasota Memorial Health Care System will spend nearly $60 million on 120 undeveloped acres near State Road 64 and Interstate 75 in Manatee County. The health system says the land could eventually support a medical campus serving Lakewood Ranch and surrounding communities.

The Sarasota County Public Hospital Board approved the deal Tuesday, Sept. 22, as first reported by WWSB. The property sits east of I-75 along State Road 64.

The purchase hinges on Sarasota Memorial working with Manatee County officials on rezoning and future development approvals.

In July, the board signed off on a separate acquisition: a 10-acre parcel next to the larger property with direct access to State Road 64. That parcel carried a purchase price of $8.4 million, with $9 million budgeted to cover closing costs, according to Sarasota Memorial spokesperson Kim Savage, as reported by the Business Observer.

Emergency department could come first on the site

If approvals come through, the first phase could put a freestanding emergency department on the 10-acre site, according to the health system. Later phases could add physician offices, pediatric specialty care, imaging, lab services and other buildings to support a potential full-service hospital.

Savage told the Business Observer in an email that development plans remain fluid. "At this point, it is premature to say how or when we will develop the site," she said. "SMH is evaluating all of its options, including a full-scale hospital."

No construction or opening timeline has been announced.

Manatee County growth drives the expansion

Sarasota Memorial pointed to several trends behind the purchase. Manatee County residents accounted for more than 185,000 of the system's patients in 2025, roughly 25% of its total volume, and patient visits at its Heritage Harbour facility have more than doubled since 2020.

Manatee County is projected to grow about 9.6% over the next five years, concentrated around the State Road 64 corridor, including Parrish, Palmetto and Lakewood Ranch.

Across Manatee, Sarasota, Charlotte and DeSoto counties, the population is expected to rise from about 1.2 million to nearly 1.8 million over the next 25 years, with Manatee leading that growth in the health system's service area.

About 30% of Sarasota Memorial's workforce, nearly 3,500 employees, live in the county.

Sarasota Memorial CEO David Verinder said in a statement Sept. 22 that the purchase reflects long-range planning, noting that health care infrastructure takes years to build. He said securing land now allows the system to expand capacity while enhancing access for future generations.

Hospital Board Chair Kevin Cooper said the acquisition fits the system's track record of early land purchases along I-75, the Business Observer reported. Sarasota Memorial bought its Laurel Road property in 2005 and opened SMH-Venice there in 2021. It acquired the Sumter Boulevard site in 2007, where SMH-North Port is expected to open in 2028.

Funding plan and existing Lakewood Ranch presence

Sarasota Memorial said any facilities outside Sarasota County would be funded through operating revenue, not taxpayer dollars from the hospital district, and would be financially self-sustaining. The system reported $2.2 billion in operating revenue in fiscal year 2025.

The system also expects more care in Manatee County to ease pressure on its Sarasota campus, where beds, emergency services and parking frequently operate at or near capacity.

Sarasota Memorial already has a footprint in Lakewood Ranch. The system opened a 15,000-square-foot freestanding emergency department at 7250 University Parkway in January 2025, according to Patch. That facility is staffed around the clock and serves up to 150 patients a day.

The next public milestone is Manatee County's rezoning process. No hearing date has been set.