SSM Health Care completed its acquisition
of Dean Health System, a large multispecialty physician group and health plan in Wisconsin.
Financial terms were not disclosed for the deal, which was announced in April and was effective Sept. 1. SSM Health, a not-for-profit Catholic health
system based in St. Louis, said in its quarterly financial report to bondholders last month that “the acquisition is very significant and will increase the size and scope of (SSM Health Care) to nearly $5.0 billion in annual revenues, a 50% increase.”
SSM reported operating income of $58.2 million on $3.3 billion in revenue in 2012.
Dean includes about 60 clinics and 500 physicians. Dean and SSM already were 50-50 partners in Dean Health Plan, an HMO with 300,000 covered lives in Wisconsin. Dean Health Plan, in turn, owns pharmacy-benefit management company Navitus.
“Dean and SSM have a long tradition of caring for people, and together we will create a new model of care and caring that will lead to healthier people in Wisconsin and beyond,” SSM Health Care President and CEO William Thompson said
in a news release. Follow Rachel Landen on Twitter: @MHrlanden