Froedtert Health has taken full ownership of Network Health after completing its acquisition of Asension Wisconsin’s 50% stake in the insurer.
The nonprofit health systems finalized the sale Nov. 1, Ascension Wisconsin said in a filing to the Municipal Securities Rulemaking Board on Monday. Network Health offers commercial and Medicare health insurance plans for employees, individuals and families in 23 Wisconsin counties. Terms of the deal were not disclosed.
Related: Froedtert Health to buy Ascension Wisconsin's stake in health plan
St. Louis-based Ascension continues to restructure its Midwest network. Last month, Ascension Michigan entered into a joint venture with Detroit-based Henry Ford Health System, under which Henry Ford would take over Ascension Michigan’s eight acute-care hospitals in the middle and southeast parts of the state. Those hospitals and related facilities generated $3.4 billion in revenue in the 12-month period ended June 30, and three of those hospitals operated at a loss, according to the filing.
Meanwhile, Milwaukee-based Froedtert is poised to expand under its proposed merger with Neenah, Wisconsin-based ThedaCare. The nonprofit health systems signed a definitive agreement to combine in September.
