Wisconsin regional health network Froedtert Health and Holy Family Memorial Medical Center signed a letter of intent to partner on healthcare services, with Frodtert taking on a minority stake in Holy Family. the organizations said Wednesday.
As part of the arrangement, Froedtert and Holy Family look to provide coordinated, academic medicine in eastern Wisconsin. Manitowoc, Wis.-based Holy Family Memorial will maintain its locally led and managed health network. It is a Catholic provider and sponsored by the Holy Family Convent of the Franciscan Sisters of Christian Charity.
"This opportunity is about supporting Holy Family Memorial's long-standing mission and continuing our mission of becoming trusted leaders in the communities we serve by transforming healthcare and connecting communities to the best of academic medicine," said Cathy Jacobsen, president and CEO of Milwaukee-based Froedtert Health, in a statement.
Both providers aren't strangers to partnership models. Froedtert also partners with the Medical College of Wisconsin and includes the only academic medical center and Level 1 trauma center in eastern Wisconsin. In 2016, Holy Family Memorial partnered with the clinically integrated network Bellin Health Partners.
"We were gratified by the interest Holy Family Memorial received from several respected, regional health systems regarding partnership opportunities to enhance Holy Family Memorial's long-standing ability to support the health and wellness of our community and their excitement about Holy Family Memorial's value proposition," said Brett Norell, president and CEO of Holy Family Memorial, in a statement.