LOUISVILLE, Ky. (WAVE) - The University of Louisville family is getting bigger, as the deal allowing UofL to acquire KentuckyOne hospitals, including Jewish Hospital, is now final.
The deal preserves all the Louisville-area facilities and 5,500 jobs.
November 1st marked the finalization of the deal, but the transition will take three years and depend heavily on a $50 million dollar loan from the state.
Walking into Frazier Rehab Institute Monday afternoon, UofL President Dr. Neeli Bendapudi is quickly surrounded by new members of the family.
“It is such an amazing moment for us. I’m speechless. That doesn’t happen often, I will tell you,” Bendapudi said. “As one family, we are going to do our very, very best for our patients, first and foremost, that’s what you all do day in and day out, I’m so grateful for that. We are going to make sure it’s a great place to learn, for all of our students that count on the opportunities here.”
The change was greeted with pride by medical workers and researchers, whose programs and positions have been protected by the merger.
Bendapudi said this takeover is dependent on a promised $50 million loan from the state. Their multi-year transition plan also involves heavy investments on UofL’s end at Jewish Hospital and other facilities.
“So we’re initially planning $20 million dollars on the combined facilities that are a part of KentuckyOne Health," Tom Miller, CEO of U of L Health said. "And then, we’ll do that again next year and the year after, and so we believe that over the next three years, we’ll get the facility back up to where it needs to be.”
After years of uncertainty, the transition to UofL is quickly proving itself to be something people are ready to get behind.
While the transition for KentuckyOne employees is immediate, Miller said it will take time to transition benefits, merge systems and improve facilities to where they want them.
If approved, Miller said they’re hoping to use the $50 million from the state toward salaries and needed investments.