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KentuckyOne inks deal to sell Louisville assets

Louisville, Ky.-based KentuckyOne Health and Lexington, Ky.-based Appalachian Regional Healthcare signed a letter of intent to enter into exclusive negotiations for the sale of Saint Joseph Martin, a 25-bed critical access hospital in Martin, Ky., Dec. 19.

KentuckyOne officials said after extensive due diligence, Appalachian Regional presented the best choice for a partner with a similar vision to maintain services, employment opportunities and overall quality of care for residents in the area.

The organizations are expected to continue their negotiations during the coming months.

KentuckyOne also revealed plans Dec. 19 to enter into exclusive negotiations with asset management firm BlueMountain Capital Management, which may include the sale of previously identified KentuckyOne hospitals and healthcare operations.  

Among the potential assets included in the sale to BlueMountain is Louisville, Ky.-based Jewish Hospital. It is unclear which other facilities will be included.

Editor's note: Becker's Hospital Review reached out to KentuckyOne Health for more information and will update the article as more information becomes available.

More articles on transactions and valuations:
9 recent hospital partnerships and transactions
Ochsner to officially ink agreement to operate Louisiana safety-net hospitals
Cooper University Health Care ends plan to acquire Trinity Health's NJ assets

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