KY healthcare group may get $83M in hospital merger

The merger of three Kentucky hospital systems would bring $83 million to the nonprofit parent of Jewish Hospital & St. Mary's HealthCare, which it plans to use for medical causes and research, as well as supporting the local Jewish community. That would enable parent Jewish Hospital HealthCare Services to keep supporting those causes even after effectively losing control of Jewish & St. Mary's and its roughly $1 billion a year in revenue once the merger becomes final. That could be as early as Dec. 31—several months earlier than initially suggested—according to a recent financial report by Catholic Health Initiatives, the Denver-based company that would be majority partner in the new statewide system the merger would create.