Milwaukee-based Froedtert Health has struck a deal to acquire Ascension Wisconsion's stake in Network Health, the health insurer jointly owned by the systems.
Each currently owns a 50 percent interest in the insurer, which offers commercial and Medicare plans for employers, individuals and families in 23 Wisconsin counties, according to an Oct. 3 Froedtert news release.
"As a proven health insurance plan that consistently receives top ratings from the Centers for Medicare and Medicaid Services, we're confident this investment will complement our robust population health strategy, allowing us to care for more people at the right place and at the right time," Froedtert President and CEO Cathy Jacobson said in the release.
A closing date will be determined following regulatory review and approval, the release said. Ascension Wisconsin, part of St. Louis-based Ascension, will extend its provider agreement post-closing to remain in-network for Network Health members.