The Jewish Heritage Fund for Excellence announced Tuesday that it will no longer sponsor Louisville, Kentucky-based health care provider KentuckyOne Health Inc., a subsidiary of Denver-based Catholic Health Initiatives.
As part of the split, Catholic Health Initiatives will give Jewish Heritage Fund $150 million in "financial consideration" to end the "five-year relationship as joint sponsors of KentuckyOne Health," according to the company.
CHI will now be the sole sponsor of the nonprofit KentuckyOne Health going forward. The deal was effective Sept. 1, 2017.
The Jewish Heritage Fund will now focus supporting the community through its grant-making program rather than supporting hospitals. The fund holds more than $250 million it could invest, according to the release.
The announcement comes after the announcement that KentuckyOne would divest several of its Louisville assets, including Jewish Hospital.
Continue reading this story at our sister publication, Louisville Business First.
