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CHI: Sale of KentuckyOne facilities to be delayed through June 2018

Louisville-based KentuckyOne Health's sale process to divest several of its facilities will reportedly continue through June 2018, according to Englewood, Colo.-based Catholic Health Initiatives' recent quarterly report, released Tuesday.

CHI, which became KentuckyOne Health's sole sponsor in September, said in the report the "marketing and sales process will continue thru the remainder of fiscal year 2018." A spokesperson for the health system confirmed the information to WDRB.com Nov. 10.

KentuckyOne previously announced plans in May to divest a number of its facilities. The health system also ended its management agreement to run daily operations at the University of Louisville (Ky.) Hospital and the James Graham Brown Cancer Center July 1.

A spokesperson on behalf of CHI and KentuckyOne Health told Becker's Hospital Review via email Nov. 13 meetings and bid presentations with interested parties have been scheduled to take place during the next few weeks. While officials had expected to complete the sale by the end of 2017, the spokesperson said the process could take up to an additional six months. The spokesperson did not cite a reason for the delay.

The spokesperson told Becker's interested parties have signed non-disclosure agreements which prevent officials from commenting on the sale process.

"KentuckyOne Health and CHI are pleased with the responses that we have received from organizations who are interested in continuing the important legacy of care in the communities we serve. Given the level of interest and the number of interested parties, we believe the future is very bright for Jewish Hospital, Sts. Mary & Elizabeth Hospital, Frazier Rehab Institute and all of the divesting facilities. We will be able to provide an update when new owners and operators have been confirmed," the spokesperson told Becker's.

More articles on transactions and valuations:
Summa Health, physician partners agree to end 3-year battle over Ohio hospital
Mississippi hospital to remain county-owned after vote to sell fails
Decision on sale of bankrupt North Carolina hospital postponed for 2nd time

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