Milwaukee-based Froedtert Health & the Medical College of Wisconsin acquired the former Wisconsin Heart Hospital in Wauwatosa from Ascension Wisconsin.
Ascension Wisconsin, part of St. Louis-based Ascension, closed 30-bed Wheaton Franciscan-Midwest Spine and Orthopedic Hospital and Wisconsin Heart Hospital on July 8, 2016.
Discussions between Ascension and Froedtert began several months ago regarding the transaction. Cathy Jacobson, president and CEO of Froedtert Health, said in a prepared statement, "Proximity to the Froedtert & the Medical College of Wisconsin academic medical center campus and continuing capacity constraints at Froedtert Hospital made this a logical step for us."
The organizations did not disclose the terms of the transaction.
This is the latest expansion for Froedtert. In May, the system said it will build the state's first "neighborhood" hospital in Mequon, Wis., to ease capacity constraints at its hospitals.
More articles on transactions and valuations:
HCA deal doesn't deter 24-bed hospital from keeping Mission Health affiliation
Nebraska's last large community health system joins 3-hospital system
Businessman disappears ahead of bankrupt California hospital sale