September 25, 2023

🔒 Want to rework well being care in Wisconsin behind Froedtert, ThedaCare merger

The choice to merge Wauwatosa-based Froedtert Well being and Neenah-based ThedaCare wasn’t born out of necessity, mentioned Cathy Jacobson, Froedtert’s president and chief govt officer. It merely made sense because of each organizations’ shared values and aim of remodeling well being care companies by way of elevated innovation and extra evenly distributed assets throughout the state.

The information of Froedtert and ThedaCare’s intent to merge was unveiled Tuesday morning and management from each well being care techniques, in addition to the Medical School of Wisconsin, was available to clarify what occurs subsequent. Froedtert and ThedaCare have already got an present partnership with the Medical School of Wisconsin by way of two just lately created well being campuses.

“It simply elevates all the pieces to a special stage. To have the ability to carry that (stage of service) not solely to our city and suburban communities, however to our rural communities as effectively, that’s the actual magic right here in my thoughts,” mentioned Dr. Imran Andrabi, ThedaCare president and CEO.

In October 2022, when Froedtert and ThedaCare introduced the creation of hospitals in Oshkosh and Fond du Lac with the assistance of the Medical School of Wisconsin, many questioned if a merger was imminent. At the moment, Jacobson mentioned no. Since then, Froedtert and ThedaCare have had time to strengthen their relationship.

“I might say we obtained to know one another even higher because it went alongside. These are two organizations that knew how nice we had been from the surface and as we started working collectively, we discovered simply how simple it was to return collectively and create these partnerships and the way aligned we actually had been,” mentioned Jacobson. “It turned a pure subsequent step the place we simply continued on.”

Froedtert and ThedaCare management at Tuesday’s press convention.

It has not but been determined the place the corporate’s company headquarters might be, solely that it’s going to stay in Wisconsin. The mixed group can have a community of greater than 3,900 suppliers. A brand new group title has not been chosen, however management from each techniques agree each names have to dwell on to honor their reputations.

Andrabi mentioned the merger might result in new methods to supply well being care entry in rural communities, together with elevated entry to telehealth choices. He predicts extra medical innovation and analysis may also be spurred by way of the merger. The partnership will enable each organizations to deal with the uneven distribution of docs throughout the state, significantly in additional rural areas.

“I might say sufferers in our communities are driving change. Sufferers have to be cared for when they need, how they need, with the perfect doctor and workers. Communities need their well being to be improved. So, to me, it’s what the folks want,” mentioned Jackie Fredrick, chair of the Froedtert Well being Board of Administrators.

Over the following a number of months, Froedtert Well being and ThedaCare will work towards refining the main points of a definitive settlement, which is able to additional define the commitments of the mixed well being system. Pending completion of due diligence, negotiation of definitive agreements with customary pre-closing situations, additional board approvals and regulatory approval of the transaction, the aim is to launch the mixed well being system by the top of this calendar 12 months.

Jacobson mentioned each organizations should respect the regulatory approval course of. She believes the truth that Froedtert and ThedaCare would not have a lot overlap will make issues transfer extra easily.

“The fantastic thing about our partnership is we aren’t overlapping at present so this actually is a chance for us to broaden and deal with extra folks in Wisconsin,” mentioned Jacobson. “I believe what we’re creating right here, and what you hear in regards to the messages on what we need to do about creating worth, about enhancing and enhancing the actually sturdy legacies of excellence that we already share, about innovation and the necessity to remodel well being care, about increasing tutorial medication, and persevering with that deep group dedication…we imagine it’s completely different than what you’re listening to from different (well being system) affiliations which might be happening.”