KentuckyOne Health and Catholic Health Initiatives have entered into exclusive negotiations with private firm BlueMountain Capital Management to explore a potential investment that may include the sale of several Louisville-based KentuckyOne Health hospitals and health care operations to BlueMountain, according to a release announcing the negotiations. If the deal—which is contingent on due diligence, regulatory approvals and other customary terms and conditions—goes through, BlueMountain has made it clear that continued access to quality health care for individuals in Louisville and across Kentucky will continue to be a priority.
The negotiation process has just begun and any transaction would be subject to “Continuing the legacy of high quality health care, world-renowned innovation and compassion for this community is very important for KentuckyOne Health,”
“Following in-depth review of plans and proposals, we believe BlueMountain Capital Management has the potential to build upon this legacy going forward,” said Richard Schultz, vice chair of the KentuckyOne Health board of directors, in a prepared statement. “They have the proven track-record in delivering on investments in quality care and operational performance. We look forward to continuing negotiations with the goal of reaching a definitive agreement.”
Last December, KentuckyOne Health and the University of Louisville announced that the two parties would end a joint operating agreement signed in 2012. KentuckyOne no longer manages U of L Hospital and the James Graham Brown Cancer Center.