UofL drops plan to buy Jewish Hospital

UofL failed in its attempt to purchase Jewish Hospital from KentuckyOne

LOUISVILLE, Ky. (WAVE) - University of Louisville President Dr. Neeli Bendapudi said there are no immediate plans to close Jewish Hospital.

Those remarks come after the University failed in its attempt to purchase the hospital from the financially ailing Kentucky One.

“All I can tell you is during the process, it didn’t turn out,” Bendapudi said. “We know that our most important obligation is to the University of Louisville. I, as leader of this University, and the Board needs to make sure that we are financially viable, sustainable and that we thrive.”

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Bendaputi said the University was not going to be able to purchase Jewish Hospital on its own and was unable to attract a partner to make the deal happen.

“A lot of times discretion is the better part of valor,” Bendapudi said. “Looking at the numbers that we saw, we could not see how we would do it in a way that would not jeopardize the University.”

UofL President Neeli Bendapudi said attempting the deal alone would jeopardize the University.
UofL President Neeli Bendapudi said attempting the deal alone would jeopardize the University. (Source: WAVE 3 News)

As for now, Jewish Hospital will stay open and UofL doctors and students still have a place to work and study.

“There are hundreds of people who work there as well and have jobs they support their families on,” Mayor Greg Fischer weighed in. “The UofL breakdown is a disappointment, there’s no question about that. But now KentuckyOne will be looking for other partners as well. So this story is not over yet.”

A statement from KentuckyOne Health said in part, “We are disappointed that UofL was not able to secure a partner for this transaction. As we continue negotiations for our Louisville-area facilities and operations, we will remain focused on patients, community and our employees and physicians."

A statement from KentuckyOne confirmed there are no plans to close Jewish Hospital or any of its other facilities.
A statement from KentuckyOne confirmed there are no plans to close Jewish Hospital or any of its other facilities. (Source: WAVE 3 News)

The statement also said conversations were underway with two other groups regarding a possible purchase, BlueMountain Capital Management and another “which wishes to remain anonymous at this time.”

“We remain committed to finding a buyer for the entire portfolio, if possible,” the KentuckyOne statement said. “And we anticipate this process will take some additional time.”

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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