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David McArthur, Senior Manager, Media Relations
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KentuckyOne Health and Blue Mountain Capital Management Sign Letter of Intent for the
Exclusive Negotiations for the Sale of Louisville-Based Facilities
Louisville, Ky. (December 19, 2017) – KentuckyOne Health and Catholic Health Initiatives have entered into exclusive negotiations with BlueMountain Capital Management, a private diversified alternative asset management firm, to explore a potential strategic investment which may include the sale of previously identified KentuckyOne Health hospitals and health care operations to BlueMountain, with a focus on ensuring continued access to quality health care for individuals in Louisville and across Kentucky. The exclusive negotiation process has just begun and any transaction would be subject to due diligence, execution of a final agreement, regulatory approvals and other customary terms and conditions.
“Continuing the legacy of high quality health care, world-renowned innovation and compassion for this community is very important for KentuckyOne Health,” said Richard Schultz, vice chair of the KentuckyOne Health board of directors. “Following in-depth review of plans and proposals, we believe BlueMountain Capital Management has the potential to build upon this legacy going forward. 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.”
KentuckyOne Health and BlueMountain will continue their negotiations over the coming months.
About KentuckyOne Health
KentuckyOne Health, one of the largest and most comprehensive health systems in the Commonwealth, includes hospitals, physician groups, clinics, primary care centers, specialty institutes and home health agencies in Kentucky and southern Indiana. KentuckyOne Health is dedicated to bringing wellness, healing and hope to all, including the underserved.
About BlueMountain Capital Management
BlueMountain Capital Management, LLC (“BlueMountain”) is a private diversified alternative asset management firm with $22 billion of assets invested across multiple investment strategies, including private equity and private debt. BlueMountain’s diverse team of professionals in New York and London is supported by the firm’s institutionalized and proprietary infrastructure, including specialized operations and risk management technology.