Indianapolis-based St. Vincent Health, which operated the hospital for the last two decades, decided not to renew its lease, which ends in May.
Under the terms of the agreement, IU Health will receive all revenue from the hospital and will pay the county $1 million annually in rent. Health system officials agreed to keep all 108 employees at the Frankfort facility.
IU Health also agreed to make a substantial investment in the hospital’s EHR system and other IT modifications. Improvements may cost as much as $6.5 million, according to the article.
More articles on transactions and valuations:
Good Shepherd Health System to merge with Christus Health
10 recent hospital transactions and partnerships
Key Valuation Issues in Healthcare
