Strategic Update from Chuck Neumann

KentuckyOne Health Divesting Operations

By Chuck Neumann, Interim President and CEO KentuckyOne Health

Transaction Update

As we begin our new fiscal year (FY2019), I know that many of you are anxious to hear some definitive information regarding the ongoing negotiations with BlueMountain Capital Management for the sale of the divesting operations. While the process is taking a bit longer than we originally planned, it continues to move forward in a positive and productive manner.

Over the past few weeks, you may have noticed additional activity, discussions and visits with many leaders at multiple facilities as BlueMountain and their partners continued their analysis of the divesting operations. This process will continue until at least mid-August. Additionally, BlueMountain has continued their conversations with leadership at the University of Louisville to ensure that this important partnership remains viable into the future as new owners assume operations of the Louisville facilities.

All parties involved in these complex and important conversations remain committed to ensuring a strong outlook for access to health care in the Louisville community. As you know, we recently completed two very successful ownership transitions for SIRH (Southern Indiana Rehab Hospital) to Vibra Healthcare, and for Saint Joseph Martin (now ARH-Our Lady of the Way) to Appalachian Regional Healthcare. Our pending transition of the Louisville operations is much broader in scope and complexity, so it is understandable that it takes more time and resources to complete an agreement.

As always, I will keep you posted of any milestones along the way. In the meantime, please remain focused on what you do so well, and remain committed to delivering safe, high quality and compassionate care to our patients who need us every day.