Sep 23rd 2019 | Posted in Healthcare by Government Contracting Pipeline

Kentucky – The University of Louisville (U of L) plans to absorb a private hospital chain’s local properties with or without $50 million in state money that legislators promised last month for the deal.
On November 1, the university will take ownership of several capital assets, including four hospitals, four outpatient centers, and a physician practice group.
Lawmakers won’t be able to approve the loan until they convene for the 2020 legislative session in January.
Jewish Hospital Official says Louisville hospital deal on regardless of state aidEstimates are the facilities need more than $100 million in upgrades.
The local hospital network’s parent company will, according to the agreement, pay U of L $126 million over four years to assume responsibility for the health-care operations. In addition to the state money, a nonprofit organization has pledged $10 million toward the deal.