LSU Severs Ties with Biomedical Research Foundation

LSU has served formal notice to the Biomedical Research Foundation of Northwest Louisiana that it must withdraw as the parent company of the University Health System.

LSU accused BRF of "breach of the public purpose set forth in the aggeed-upon Cooperative Endeavor Agreement." This comes after a long period of negotiations between LSU and BRF that began in early July.

"We have exhausted all avenues to resolve our differences amicably and now must take action that we hoped would not be necessary," said LSU President F. King Alexander in a news release. "We want to secure operational and financial stability through a viable partnership, so we can continue to ensure both high-quality healthcare and medical education."

The news release also states that in an effort to ensure the continued operation of University Health Shreveport and University Health Conway, a new group of civic leaders has stepped forward to bridge the transition to a new operating partner. Academic Health of North Louisiana Hospital Management Company, Inc., plans to announce its board members in the near future.

"Patients, hospital staff and the community at large can rest assured that the Universith Health hospitals will continue to operate as usual during this period," Alexander said. "LSU pledges its continued commitment to provide unparalleled medical care in the Shreveport and Monroe communities."