State lawmakers scrutinize state loan in UofL’s purchase of Jewish Hospital

State lawmakers scrutinize state loan in UofL’s purchase of Jewish Hospital


MARK: WHEN U OF L FIRST
ANNOUNCED ITS PURCHASE OF JEWISH
HOSPITAL ABOUT ONE MONTH AGO,
MEMBERS OF BOTH PARTIES HERALDED
THE NEWS. BUT NOW HERE IN FRANKFORT,
MEMBERS OF BOTH PARTIES HAVE
SOME TOUGH QUESTIONS.>>WE EXPERIENCED THE SAME THING
WITH THE PINEVILLE COMMUNITY
HOSPITAL BACK IN DECEMBER OF
LAST YEAR WHEN THEY FILED FOR
BANKRUPTCY, AND THAT’S THE ONLY
HOSPITAL IN THAT COUNTY. MARK: SENATOR STEVE MEREDITH IS
A FORMER RURAL HOSPITAL CEO, AND
SAYS NO HOSPITAL HAS EVER
RECEIVED HELP LIKE U OF L WITH
ITS PURCHASE OF JEWISH HOSPITA
>>ARE WE PICKING WINNERS AND LOSERS?>
U OF L CEO TOM MILLER DEFENDED
THE STATE ASSISTANCE.>>WE WOULD NOT HAVE MOVED
FORWARD IF WE DID NOT HAVE A
PARTNERSHIP, BOTH WITH THE
STATE, AND WITH THE FOUNDATIONS
ASSOCIATED WITH THAT, BECAUSE IT
WOULD HAVE PUT THE FINANCIALS THE UNIVERSITY AT RISK. MARK: THE PURCHASE OF JEWISH
HOSPITAL PRESERVES
WORLD-RENOWNED TRANSPLANT
PROGRAMS, MAINTAINS U OF L’S
RESEARCH AND RESIDENCY PROGRAMS,
AND KEEPS THE DOORS OPEN TO THOUSANDS OF PATIENTS. BUT SOME LAWMAKERS WORRY THE
DEAL COULD BE TROUBLE.>>JEWISH HOSPITAL HAS A
THREE-YEAR LIFE CYCLE ASSOCIATED
WITH IT. THAT MEANS THE BUILDING’S GOING
TO CLOSE DOWN IN THREE YEA
UNLESS YOU ALL DO INCREDIBLE
MAINTENANCE TO IT. MARK: MILLER SAYS U OF L PLANS
TO SPEND ROUGHLY $40 MILLION PER
YEAR FOR THE NEXT THREE YEARS
UPDATING JEWISH HOSPITAL, BUT
WHAT IF LAWMAKERS DON’T APPROVE
THE LOAN>>VERY DIFFICULT. IT’S NOT
EASY
WE WOULD HAVE TO CUT BACK ON
SOME CAPITAL IMPROVEMENTS THAT
WE WOULD NEED TO DO. WE WOULD HAVE TO MOVE FORWARD
FASTER ON SOME OF THE
INTEGRATIONAL ASPECTS THAT WE
HAVE. IT’S NOT EASY. WE’RE NOT SURE IF WE CAN GET IT
DONE. MARK: WE ASKED SENATOR MORGAN
MCGARVEY IF HE THOUGHT LAW

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