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UofL Health and CommonSpirit Health Confirm Asset Purchase Agreement with UofL Health for Ownership and Operation of Louisville Region Facilities and Operations
UofL Health agrees to purchase all operations following support from Governor Bevin, Kentucky elected officials and community partners
LOUISVILLE, Ky. – (August 14, 2019) – UofL Health and CommonSpirit Health confirmed today that they have signed an Asset Purchase Agreement for the transfer of ownership and operation of UofL Health sites of care and operations in the Louisville region to UofL Health. This important milestone in the future of health and wellness for the Louisville community was made possible following support from Governor Matt Bevin, Kentucky elected officials, UofL leaders and community partners.
The Asset Purchase Agreement for the transaction of the operations was confirmed on August 14, 2019. Closure of the transaction is expected to occur on October 31, 2019 and UofL Health is expected to assume ownership and operation beginning November 1, 2019.
“We are pleased to reach this milestone for our employees, physicians, patients and the community. Following many months of discussions with interested organizations, we believe that UofL Health will carry the legacy and excellence of UofL Health Louisville operations into the future,” said Kevin Lofton, CEO of CommonSpirit Health. “I recognize all those who made this opportunity possible, particularly Governor Matt Bevin, who understands and advocates for the importance of providing access to health care for all, including the poor and vulnerable. This commitment of providing access to quality care and innovation has been the focus of these hospitals for generations, as founded by the Sisters of Charity of Nazareth and Jewish community leaders.”
UofL Health and CommonSpirit Health led complex negotiations over several months to shape the future of their Louisville region facilities. It was important for the organizations to identify a path forward which would include all sites of care, including UofL Health - Jewish Hospital, Frazier Rehab Institute, Sts. Mary & Elizabeth Hospital and Our Lady of Peace. These facilities maintain a legacy of excellence, innovation and care for all in the Louisville community, and UofL Health is honored to pass the torch of leadership to a new owner and operator, with the support of Governor Bevin and leaders in the community.
Facilities and operations included in this agreement are UofL Health - Jewish Hospital, Frazier Rehab Institute, Sts. Mary & Elizabeth Hospital, Our Lady of Peace, Medical Centers Jewish East, South, Southwest and Northeast, UofL Health - Jewish Hospital Shelbyville and UofL Health Medical Group provider practices in the Louisville region.
"We are grateful to the University of Louisville, CommonSpirit Health, and our legislative leadership for their joint efforts to preserve healthcare programs, services, and jobs that are vital to the University of Louisville, the UofL Medical School, Metro Louisville, and the entire Commonwealth,” said Gov. Bevin. “UofL’s acquisition of the UofL Health facilities will maintain more than 5,000 jobs in the healthcare sector and ensure that our healthcare delivery system in Metro Louisville is preserved. I am confident that this acquisition will further the incredible medical research occurring at these facilities, while simultaneously meeting the growing demand for quality, cutting-edge healthcare services.”
UofL Health and UofL Health will quickly re-engage transition teams to shape a seamless transition. We are committed to ensuring continuity of care for the community and support all of the approximately 6,000 employees and physicians across the UofL Health Louisville region.
UofL Health’s Louisville Region includes hospitals, physician groups, clinics, primary care centers and specialty institutes. Our facilities provide patients and their families in the Greater Louisville Area with a wide array of patient care services ranging from high-tech tertiary and rehabilitative care available at UofL Health - Jewish Hospital and Frazier Rehab Institute on the downtown medical campus, to inpatient acute care and outpatient services available in community settings at Sts. Mary & Elizabeth Hospital, UofL Health - Jewish Hospital Shelbyville and Medical Centers Jewish East, Northeast, South and Southwest. All the Louisville Region facilities are committed to continuing the legacy of care that has been provided to patients in this area for over a century.