Florida State University Announces Plan to Build “FSU Health” Hospital in Panama City Beach

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PANAMA CITY BEACH, Fla.--(BUSINESS WIRE)-- The St. Joe Company (NYSE: JOE) (“St. Joe”) is excited to share that Florida State University (“FSU”) has announced plans to build a state-of-the-art acute care hospital in Panama City Beach under the “FSU Health” name to serve the residents of Bay and Walton counties. View the full release here: Florida State University News.

A rendering of the planned FSU Health Hospital in Panama City Beach, Florida.

“Access to quality healthcare is essential for the well-being of all residents in Northwest Florida,” said Jorge Gonzalez, Chairman, President and CEO of St. Joe. “FSU Health is meeting a critical need for more healthcare options in tandem with education and research opportunities for students, which is transformative for the region.”

“The new hospital is a testament to our unwavering commitment to providing exceptional service and quality care to the community," FSU President Richard McCullough said. "We are creating a state-of-the-art facility that will meet the community's needs, support local physicians, and prioritize an outstanding patient experience, enhancing the overall health and well-being of our residents."

“Northwest Florida has long needed access to high-quality healthcare services,” said Florida State Senator Jay Trumbull. “For years, our communities have faced challenges related to limited healthcare infrastructure, provider shortages, and long travel times to receive specialized care. This has created a critical gap in meeting the needs of our growing and aging population. With the partners involved, we now have tremendous opportunities for collaboration in research, education, and clinical care—opportunities that I’m confident will not only improve health outcomes, but also strengthen the economic vitality and long-term well-being of Northwest Florida.”

Philip “Griff” Griffitts, Member of the Florida House of Representatives shared his support for the announcement. “As someone born and raised in Bay County, I recognize the increased need for additional medical care in our community and I’m incredibly grateful that FSU chose Panama City Beach as a foundation for expanding healthcare options and educational opportunities in Bay County and beyond.”

According to Panama City Beach Mayor Stuart Tettemer, “Panama City Beach is a beautiful place to live and a wonderful place to visit. The new hospital, along with the primary and urgent care services now available, helps people enjoy life here with quality care close to home, while also creating local jobs and strengthening our year-round economy. It’s a huge win for the Beach, residents, and visitors.”

“Located in Panama City Beach but serving the greater Bay County area and beyond, the hospital will enhance and expand the medical services already available in the county,” said Doug Moore, Chairman of the Bay County Commissioners. “We are fortunate to have great medical facilities in Bay County and as our population and annual visitation continues to grow, so does the demand for more services and the need to supplement our existing healthcare system.”

According to the announcement, construction of the hospital is anticipated to begin soon with plans to be open in 2028.

About The St. Joe Company

The St. Joe Company (“Company”) is a diversified real estate development, asset management and operating company with real estate assets and operations in Northwest Florida. The Company intends to use existing assets for residential, hospitality and commercial ventures and has significant residential and commercial land-use entitlements. The Company actively seeks higher and better uses for its real estate assets through a range of development activities. More information about St. Joe can be found on its website at www.joe.com.

©2025 The St Joe Company. “St. Joe^®,” “JOE^®,” the “Taking Flight” Design^®, and “St. Joe (and Taking Flight Design)^®” are registered service marks of The St. Joe Company.

View source version on businesswire.com: https://www.businesswire.com/news/home/20250326670399/en/

St. Joe Investor Relations Contact:
Marek Bakun
Chief Financial Officer
1-866-417-7132
marek.bakun@joe.com

St. Joe Media Relations Contact:
Mary Beth Lovingood
Corporate Director of Marketing
850-231-6583
marybeth.lovingood@joe.com

Source: The St. Joe Company