U of L needs partner to purchase health care facilities
Kentucky- The University of Louisville (U of L) is still searching for a partner it can team up with to buy Jewish Hospital and other KentuckyOne health care facilities. The health care system that owns the unprofitable Jewish Hospital and other facilities in Louisville announced in spring 2017 that it would sell the facilities. It has failed to complete a sale. U of L wants to jointly either acquire, own or lease and operate certain facilities and operations. The U of L’s initial request for proposals (RFP) did not produce any joint ventures of interest that would involve a combined $1.5 billion in revenues. U of L plans to allow for that additional time for the RFP process and is looking to reach a definitive agreement with Jewish Hospital’s owner by June 30, the end of the company’s fiscal year.
More than 50 of the school’s medical residents and dozens of doctors associated with the university work at Jewish and the Frazier Rehab Institute, and all physicians who perform lung, kidney, liver, pancreas, heart and dual organ transplants at Jewish are employed by the university. The university hired a private health care investment banking firm to assist in its efforts to vet and choose a partner that’s willing not only to finance the acquisition of Jewish and other KentuckyOne facilities but also to help U of L run those operations.