Caritas Health Services, Louisville, Ky., a subsidiary of Catholic Health Initiatives, will merge with Jewish Hospital HealthCare Services, Louisville, in a deal expected to be completed Nov. 1. Jewish will own 75% of the joint-venture company, to be called Jewish Hospital & St. Mary's HealthCare. CHI will own 25%, with the option to increase its ownership stake to 50% in the next 15 years. The not-for-profit joint venture will combine 473-bed Caritas Medical Center and Caritas' psychiatric hospital, surgery center and physician group with two acute-care hospitals and one rehabiliation hospital owned by Jewish. Jewish will name 14 of the 21 board members and CHI will name seven. Jewish's chief executive officer, Robert Shircliff, will become president and CEO of the joint venture. The deal does not require state or federal approval, said Kathy Haddix, Jewish's vice president and legal counsel. -- by Melanie Evans
Louisville, Ky., hospitals to merge in joint venture
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