U of L told the Courier Journal the document is a draft, and the deal still needs to be approved by the board.
U of L withdrew from negotiations with hospital owner KentuckyOne earlier this year because it was unable to buy the assets alone and it couldn’t find a partner. The bundle included Jewish Hospital, Sts. Mary and Elizabeth Hospital, Our Lady of Peace, and Jewish Hospital Shelbyville. It was a tough sell because Jewish Hospital and St. Mary’s Healthcare posted $29 million in losses in the last six months of 2018, and Jewish Hospital would require millions of dollars of upgrades. A previous Courier Journal report pegged estimated repairs at around $300 million to $500 million.
The potential transaction would combine Jewish Hospital and U of L into one enterprise and integrate their physician groups, according to the Courier Journal.
Read the full story here.
More articles on transactions and valuation:
Kootenai Health to acquire 2 hospitals
Shuttered Tennessee hospital sells for $200K
Kentucky health system acquires 13th hospital
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