KentuckyOne Health has reached a definitive agreement with Appalachian Regional Healthcare (ARH) for the sale of Saint Joseph Martin and its four rural health clinics.
From the beginning of our discussions with ARH, we have been confident they have the in-depth knowledge and experience to serve the Martin community for the future. Their vision ensures a continued commitment to Martin through engaging clinical care providers, employees and community partners.
Over the next several weeks, the ARH and KentuckyOne Health teams will continue the ongoing integration efforts to ensure a smooth transition for ARH to assume operations of Saint Joseph Martin, expected to take place this summer. In the meantime, Saint Joseph Martin will remain part of KentuckyOne Health.
ARH is a health system based in Lexington with hospitals, specialty clinics and other health facilities in eastern Kentucky and southern West Virginia. ARH looks forward to building on Saint Joseph Martin's rich history of providing state and nationally recognized quality care, and believes embracing the hospital's rich history is key to its prosperous future.
With that in mind, and with the approval of the Catholic Diocese of Lexington and the Sisters of Charity of Cincinnati, the hospital and clinics will incorporate a return to the hospital's original name, Our Lady of the Way Hospital, into the hospital's new name which will be ARH Our Lady of the Way Hospital.
The next phase in the process is closing the sale, which is slated for June 30, with ARH assuming day-to-day operations on July 1. View the official news release for additional information.
Louisville Divesting Facilities Update
Discussions with BlueMountain Capital Management continue to progress in a positive manner. As we have shared previously, given the size and scope of the Louisville portfolio, reaching a definitive agreement with this transition will take longer than ARH.
Our goal remains to reach an agreement by this summer and establish a timetable and work groups to ensure a smooth transition. As always, we will keep you informed of any significant milestones and decisions.