Trover Health System, a Madisonville company that serves western Kentucky, has entered into exclusive negotiations with Louisville-based Baptist Healthcare System to form a strategic partnership whereby Trover would become a member of the Baptist system.
Trover announced in April that it was launching a search for a strategic partner as part of its goal to “ensure the long-term delivery of quality healthcare.”
At that time, Trover President and CEO E. Berton Whitaker said, “Trover, like many health systems across the country, is dealing with a new reality that requires a shift to a new business model. In Kentucky, we are seeing consolidations and alignments of healthcare systems and hospitals in nearly every market. The evolving private insurance market, the financial crisis and healthcare reform are requiring health systems to make transformational change.”
In considering a partnership, the Trover board of directors reviewed letters of intent submitted by Baptist Healthcare, LifePoint Hospitals and Owensboro Medical Health System. Each finalist was selected based on its ability to assist Trover with objectives for the affiliation process that included assistance with the design and implementation of new models of care and payment reform, providing access to capital, experience with recruiting and sustaining physician relations, and developing service line partnerships. Trover and Baptist will now begin more in-depth negotiations to reach a final agreement.
Trover has served Western Kentucky for more than 55 years and has seven locations in six counties and employs more than 90 staff physicians and residents.
Baptist Healthcare System owns five acute-care hospitals with more than 1,650 licensed beds in Louisville, Lexington, Paducah, Corbin and La Grange. Baptist also manages Hardin Memorial, a 300-bed acute-care hospital in Elizabethtown, and Pattie A. Clay, a 105-bed acute-care hospital in Richmond.