Milwaukee-based Ministry Health Care, part of Ascension Wisconsin, has reached a tentative agreement to sell Ministry Saint Joseph's Hospital in Marshfield, Wis., to Marshfield Clinic Health System, according to a Milwaukee Business Journal report.
Here are four things to know about the proposed deal.
1. The preliminary agreement calls for the sale of Ministry Saint Joseph's, a tertiary medical center with more than 500 beds. It also calls for Ministry Health Care to acquire full ownership of The Diagnostic & Treatment Center in Weston, Wis., from the Marshfield Clinic, according to the report.
2. Marshfield Clinic President and CEO Susan Turney, MD, noted the potential benefits of a hospital sale. "Taking ownership of the hospital means we can restore services, significantly reduce diversions and maintain jobs that might otherwise leave our community," she said, according to the report. She added, "We anticipate no major disruption in employment for most Saint Joseph's employees, both during the transition and after the sale."
3. In the meantime, the tentative deal puts the Marshfield Clinic's plans to build a new $175 million hospital in Marshfield on hold, according to Marshfield Clinic.
4. Financial details of the preliminary agreement were not disclosed to the Milwaukee Business Journal.
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