Ex-Lutheran Health CEO seeks investors for private venture

The former CEO of Fort Wayne, Ind.-based Lutheran Health Network is searching for investors for his private venture, which could become the city's third full-service health system, according to The Journal Gazette.

In a 26-page presentation obtained by The Journal Gazette, ex-Lutheran CEO Brian Bauer seeks $25 million to $30 million in funding for his healthcare venture, Kyber Health.

The documents also detail his involvement with Indianapolis-based IU Health, which was the subject of a contentious legal battle between Mr. Bauer and Lutheran's parent company, Franklin, Tenn.-based Community Health Systems.

The Journal Gazette reports Kyber Health and IU Health are expected to enter into a joint venture partnership as early as next week. Plans for the venture include creating several primary care offices, two imaging clinics, two inpatient surgery centers and three urgent care centers during the rest of this year and into April 2019. The documents also note the venture eventually aims to construct a hospital or cancer center.

The plan is broken into three phases. The venture would need to build up its primary care base and launch outpatient services with independent specialists before tackling a hospital or cancer center, the documents state. The proposed hospital and cancer center are not included in the plan's proposed timeline.

The documents also identify five potential community leaders to be named as Kyber Health board members alongside Mr. Bauer — at least three of whom are former Lutheran Health Network board members. No formal offers have been made to any of the individuals.

To access the full report, click here.

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