KU Health and Ardent formed a joint venture to purchase the hospital, which will be rebranded The University of Kansas Health System St. Francis Campus, and its 15 associated clinics, which will be renamed The University of Kansas Physicians Topeka.
Ardent and KU Health previously agreed to invest $50 million in the health system. Ardent will manage daily operations at the health system, while KU Health will provide clinical and financial resources.
The hospital and its associated clinics will continue to be run by local management. However, both KU Health and Ardent will share governance on the joint venture board of directors and establish a separate local board of trustees to oversee the hospital and clinics.
More articles on transactions and valuations:
Rice Memorial board OKs partnership with CentraCare, ACMC Health
FTC argues for preliminary injunction to halt Sanford, Mid Dakota merger
Elliot, Southern New Hampshire Health combine to create Solution Health
