Louisville, Ky.-based KentuckyOne Health is moving forward on the sale of nine facilities and a medical practice. The sale is part of a restructuring that will leave KentuckyOne with eight of its original 17 hospitals. Most of the eight being retained by KentuckyOne are in the greater Lexington, Ky., region.
BlueMountain Capital Management, a New York-based private asset management firm, is in exclusive negotiations to acquire eight hospitals and a group physician practice in Louisville and environs.
BlueMountain is negotiating with KentuckyOne to acquire:
- Frazier Rehab Institute, Louisville
- Jewish Hospital, Louisville
- Jewish Hospital Shelbyville, Shelbyville, Ky.
- Medical Center Jewish East, Louisville
- Medical Center Jewish Northeast, Louisville
- Medical Center Jewish South, Shepherdsville, Ky.
- Medical Center Jewish Southwest, Louisville
- Sts. Mary & Elizabeth Hospital, Louisville
- KentuckyOne Health Medical Group practices in Louisville
According to KentuckyOne, BlueMountain will work with the Archdiocese of Louisville "to determine the best way to honor the legacy and heritage of Sts. Mary and Elizabeth Hospital," the only Catholic hospital on the sale list.
KentuckyOne says ownership and management structures under the deal are yet to be determined. KentuckyOne, CHI and BlueMountain are working toward completion of a final agreement and securing various approvals. The organizations hope to complete the transaction before the summer.
KentuckyOne also is in exclusive negotiations with Appalachian Regional Healthcare on the sale of Saint Joseph Martin, a KentuckyOne critical access hospital in Martin, Ky.
Lexington-based Appalachian Regional, a secular not-for-profit health care system, operates 11 hospitals and a network of other facilities in Kentucky and West Virginia. If the deal goes through, Appalachian Regional said it would maintain Saint Joseph Martin's current services and invest in the facility, according to the release.
KentuckyOne said Appalachian Regional will work with the Diocese of Lexington to determine the best way to honor Saint Joseph Martin's legacy and heritage. Currently, it is a Catholic facility.
The organizations hope to complete the deal early this year.
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