M&A Roundup: KentuckyOne Health forms $1.4B JOA
The healthcare sector got a little more concentrated last week with the announcement out of Louisville that University Hospital and James Graham Brown Cancer Center have signed a joint operating agreement with KentuckyOne Health.
Officials say KentuckyOne Health will invest about $1.4 billion in infrastructure improvements, research, and program development over the next 20 years.
The joint announcement was made by leaders from the University of Louisville and University Medical Center, which are the parent organizations for University Hospital and the Brown Cancer Center, and from KentuckyOne Health.
"Our Joint Operating Agreement ensures that we not only maintain our current academic and medical services, but that we have the financial resources and statewide network to continue to expand and innovate those services for the future," UMC President and CEO Jim Taylor said in prepared remarks. "This venture will put us at the forefront in our field to create an aligned organization that has both the breadth and depth to address the coming challenges of healthcare reform."