The 25-bed Shawano Medical Center in Appleton, Wis., will become a member of its competitor, three-hospital ThedaCare health system, in a merger that has the system agreeing to pay a large share of the cost for a replacement hospital.
ThedaCare, hospital ready to merge
Dorothy Erdmann, CEO of Shawano, said Appleton-based ThedaCare has agreed to pay the medical center’s charitable foundation $1.5 million as part of the deal, and to invest $2.8 million to bring Shawano onto ThedaCare’s electronic medical record system. The local hospital will retain the nine members of its existing board, along with three new appointees made by ThedaCare.
The agreement was approved by the boards of both not-for-profit providers this month after six months of negotiations. The agreement is effective Jan. 30. Erdmann said groundbreaking for the Shawano’s replacement hospital is set for 2013, but the project is too far off to project a total budget.
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