UofL backs out of plan to buy KentuckyOne hospitals, medical centers

UofL backs out of plan to buy KentuckyOne hospitals, medical centers
UofL ended negotiations because it couldn't take on the financial risk alone. (Source: WAVE 3 News)

LOUISVILLE, Ky. (WAVE) - The University of Louisville has ended negotiations into the acquisition of various KentuckyOne Health assets, including Jewish Hospital.

The potential partnership has been in discussion since December 2018. In February, UofL issued a request for proposal, or RFP, in hopes of soliciting outside businesses to help invest and expand clinical health services, research and education.

Proposals needed to be submitted by early March.

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The university said Wednesday it could not find a suitable partner to help fund the move and taking on the acquisition alone was too much of a financial risk. Both Catholic Health Initiatives and KentuckyOne Health have been notified.

“We regret ending our talks with CHI, but we must do what is fiscally responsible for the University of Louisville,” UofL President Neeli Bendapudi said in a statement. “Without a viable partner, we do not have the resources necessary to make the acquisition a reality.”

In addition to Jewish Hospital, other KentuckyOne Health properties include Frazier Rehabilitation Institute and Our Lady of Peace.
In addition to Jewish Hospital, other KentuckyOne Health properties include Frazier Rehabilitation Institute and Our Lady of Peace. (Source: WAVE 3 News)

UofL and CHI will work together to make sure the changes don’t affect students. This includes extending the Academic Affiliation Agreement, which provides conditions under which the university’s physicians and medical residents provide care for patients, serve in leadership roles for various hospital programs and conduct clinical trials.

The extension will ensure undergraduate and graduate/medical education programs can continue at Jewish Hospital and Frazier Rehab Institute. If programs cannot be continued at those facilities, CHI will assign those residencies to another facility requested by the university, according to a release.

In addition to Jewish Hospital, other KentuckyOne Health properties include Frazier Rehabilitation Institute, Our Lady of Peace, Sts. Mary & Elizabeth Hospital, Medical Center Jewish South, Medical Center Jewish East, Medical Center Jewish Northeast, Medical Center Jewish Southwest and Jewish Hospital Shelbyville.

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