Menasha, Wis.-based health plan Network Health is now officially co-owned by Milwaukee-based Froedtert Health and Milwaukee-based Ministry Health Care.
Under the co-ownership agreement, Froedtert and Ministry Health established Brookfield-based Integrated Health Network of Wisconsin as the provider organization for Network Health members in new service areas.
As it stands now, Network Health provides commercial and Medicare Advantage health insurance plans to employers and residents in northeastern Wisconsin. With co-ownership facilities and IHN as the provider group, Network Health will be able to expand insurance services into southeastern region of the state as well.
IHN is a clinically integrated network of independent health systems, hospitals and physicians of which Froedtert and Ministry are a part of.
Expanding Network Health's service area presents exciting possibilities, according to Catherine Jacobson, president and CEO of Froedtert Health and chair of IHN.
"We look forward to working together to offer southeastern Wisconsin employers additional proven, high-quality insurance options and evidence-based care coordination through IHN," said Ms. Jacobson.
Nick Desien, president and CEO of Ministry Health and Ascension Ministry Market Leader for Wisconsin, expressed optimism regarding the agreement going forward.
"We are pleased that all final steps have been taken and approvals received to complete this transaction," said Mr. Desien. "The shared ownership of Network Health by Froedtert and Ministry will open many new opportunities for all three organizations as well as employers and residents of southeastern Wisconsin."
With the transaction completed, Network Health members will have access to advanced specialty care through Froedtert and the Medical College of Wisconsin academic medical center.
Network Health aims to offer fully insured and self-funded plans to large employers by spring 2015.