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Louisville community concerned about Jewish Hospital: 'Buying the thing is nothing — it's the money you'd have to spend to get it up to speed'

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The Louisville, Ky., medical community believes chances of survival look grim for the local 462-bed Jewish Hospital, according to a report from Louisville Courier Journal.

The hospital's owner, KentuckyOne, is back to the drawing board after the University of Louisville withdrew from plans to acquire a bundle of assets that includes the financially struggling Jewish Hospital, according to the report. The university, which operates clinical and academic programs at Jewish Hospital, was unable to find a financial partner to buy the assets. The bundle includes Jewish Hospital, Sts. Mary and Elizabeth Hospital, Our Lady of Peace and Jewish Hospital Shelbyville.

The news of the university's departure has intensified fears of a potential closure. Jewish Hospital and St. Mary's Healthcare posted $29 million in losses in the last six months of 2018, according to the report.

"Buying the thing is nothing," Hiram C. Polk Jr., MD, a retired U of L professor, told the Courier Journal of Jewish. "It's the money you'd have to spend to get it up to speed." The facility needs $300 million to $500 million in estimated upgrades, according to the report.

KentuckyOne parent Catholic Health Initiatives has been trying to sell the facility since 2017. A potential deal with the hedge fund Blue Mountain Capital did not come to fruition, and CHI has since cut the value of the properties twice.   

KentuckyOne told the Courier Journal it is in discussions with other groups about the hospitals.

Read the full story here.

 

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