Resolves all disputes
LOUISVILLE, Ky. (Aug. 11, 2016) — Kosair Charities Committee, Inc. and Norton Healthcare, Inc. today announced that they have entered into a settlement agreement that resolves all disputes between them on terms that allow each organization to focus on its respective mission.
Under this settlement agreement, Kosair Charities’ annual contributions for the children’s hospital currently being held by the court during this dispute will be transferred to a separate endowment that will continue to fund 100 percent of the cost of charity care provided to children whose families cannot afford to pay for services at the children’s hospital until the endowment is exhausted.
Kosair Charities has also agreed to a one-time financial contribution that will be matched by Norton Healthcare, which will be used to help fund the cost of new or enhanced facilities or equipment at the children’s hospital.
“We believe this resolution will prove beneficial to communities and children we serve,” said Stephen A. Williams, CEO, Norton Healthcare. “Both organizations remain committed to meeting children’s health care needs. The time has come for us to pursue that focus independently. We thank Kosair Charities and its members for their prior support and dedication to the commonwealth’s children. Norton looks forward to continuing to serve the pediatric community.”
Jerry Ward, Chairman of the Board of Kosair Charities, said: “We are happy to announce this agreement will allow Kosair Charities to continue to serve our longstanding mission of ensuring that all children in this community, regardless of their family’s ability to pay, receive the medical care they need. Although the needs of our children have changed, the focus of Kosair Charities remains the same. We look forward to helping the children at the children’s hospital as provided in today’s agreement, as well as to expanding our support for the over 100 pediatric agencies and life-changing programs outside of the hospital who rely upon Kosair Charities and our donors.”
Specific terms of the settlement agreement are not being made public.