Wauwatosa, Wis.-based Froedtert Health plans to acquire a majority stake in Manitowoc, Wis.-based Holy Family Memorial.
Under the agreement, the hospital will operate as part of the Froedtert network but will retain its Catholic identity.
The organizations said the partnership will provide Holy Family Memorial long-term clinical and financial stability.
"Our systems share a similar vision and mission centered on connecting and advancing the health of the communities we serve," said Cathy Jacobson, president and CEO of Froedtert Health. "More so than ever, expanding access to care is paramount, and this partnership will allow us to advance the health of the region through enhanced patient care and connect Holy Family Memorial’s patients and employees to the best of academic medicine."
Financial terms of the agreement were not disclosed.