Editor’s note: This story was updated on April 4.
Jacksonville (Fla.) Orthopaedic Institute is laying off more than 150 employees and plans to shutter six clinic locations amid a physician buyout of Jacksonville-based Baptist Health, according to an April 2 report from CBS affiliate WJAX.
The exact number of layoffs will total 153, according to WARN reports filed with the state.
In 2011, JOI sold its stock to Baptist Health with a buyback option. Now, a group of JOI physicians have signed a deal to repurchase the stock and operate as an independent practice.
As part of the buyback, Jacksonville Orthopaedic Institute is restructuring, resulting in layoffs and closures.
“As part of this transition, JOI is planning to restructure, which will result in the closure of several locations and the elimination of certain positions,” a spokesperson from Baptist told Becker’s in a statement. “These decisions were not made lightly, and JOI is committed to helping all impacted employees understand their benefits and providing resources for career continuity to ensure a smooth transition.”
Baptist told WJAX it plans to retain five of Jacksonville Orthopaedic Institute’s 12 rehab locations, but it has not specified which ones. The practice also has not specified which six rehab locations it intends to close.
The layoffs will come from eight JOI locations between May 30 and July 13. Impacted positions include physicians, radiology technologists, medical secretaries, patient account representatives, appointment schedulers and medical assistants.
JOI serves as the sports medicine provider for several high-profile athletic teams, including the Jacksonville Jaguars and Jacksonville University.
