St. Louis-based Ascension has entered into a definitive agreement to sell two Wisconsin hospitals to Marshfield (Wis.) Clinic Health System.
The health systems announced the agreement Feb. 19, roughly four months after they signed a nonbinding memorandum of understanding. Under the proposed transaction, Marshfield Clinic Health System will acquire St. Clare's Hospital in Weston, Wis., and Ascension's interest in Flambeau Hospital in Park Falls, Wis., and The Diagnostic & Treatment Center in Weston.
"We came to this agreement with the best interests of our patients, communities and associates in mind in the context of the rapidly evolving healthcare landscape in Wisconsin and nationally," Bernie Sherry, ministry market executive for Ascension Wisconsin and senior vice president of Ascension, said in a news release. "Ascension and MCHS are working diligently on a smooth transition to ensure that Ascension St. Clare's continues to provide the compassionate care that has been its hallmark since the hospital opened 14 years ago."
Marshfield Clinic Health System previously announced plans to build a new hospital in Wausau, Wis. In October, the system said it wouldn't move forward with those plans if it acquires St. Clare's Hospital, which is about 10 miles from Wausau.
"By combining our exceptional group of providers with our own hospitals, health plan and research institute, we are able to provide truly comprehensive and cutting-edge care to our patients," Marshfield Clinic Health System CEO Susan Turney, MD, said. "We are excited to bring this model of care to the Wausau/Weston area, which will be fully realized with the acquisition of St. Clare's Hospital."