Trustees approve universitys plan to purchase hospital

The University of Louisville says it is launching a campaign aimed at decreasing the use of antibiotics. LOUISVILLE, Ky. (AP) – University of Louisville trustees have approved the school’s purchase of a financially struggling hospital under a plan that would include a $50 million state loan.UofL trustees approved the transaction at a meeting on campus Wednesday. The deal will significantly increase UofL’s footprint in the medical sector of Kentucky’s largest city.- Advertisement – Under the deal, UofL would purchase the greater Louisville market assets of KentuckyOne Health Inc., which includes Jewish Hospital.The deal includes the promise of state support though a $50 million loan. Half of the loan would be forgivable if job retention and other conditions are met.Trustees authorized UofL President Neeli Bendapudi to negotiate and finalize the agreement.Related Article: Solid Blue fans react to win over rival LouisvilleKentucky Gov. Matt Bevin is scheduled to discuss the deal with Bendapudi later in the day. read more