Two Kentucky health systems plan to enter a joint venture agreement to better serve patients in Kentucky, southern Ohio and West Virginia, according to a Jan. 29 trustee approval letter.
Under the deal, Beyond Blue, an affiliated company of University of Kentucky HealthCare in Lexington, will partner with King's Daughters Health System in Ashland, Ky.
UK HealthCare said that this is not a takeover, but rather a partnership between two very strong companies.
"We are not coming in as a white knight," Mark Newman, MD, executive vice president of Health Affairs at the university told WKTY. "We're coming to work together to keep them strong and to secure our future."
A new governing group will be formed for the proposed joint venture and will have equal representation from both UK HealthCare and King's Daughters, according to UK Now. David Jones, chair of King's Daughters board, will serve as chair of the new governing group.
UK HealthCare and King's Daughters outlined several goals of the joint venture, including strengthening access to healthcare, keeping healthcare local, improving operational efficiencies and boosting care coordination between the two organizations.
Final operational details of the partnership are expected to be announced in April, according to UK Now.