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SwedishAmerican Health System, UW Health sign definitive merger agreement

SwedishAmerican Health System, a two-hospital system in Rockford, Ill., and University of Wisconsin Health in Madison have signed a definitive agreement to merge.

Under the agreement, which is pending state and federal regulatory approvals, nonprofit SwedishAmerican will become a part of UW Health.

Through the merger, more resources will be available in Rockford to help provide patients with greater access to medical specialties. Over the next five years, $255 million will be invested in the Rockford market for new clinical care locations, hospital infrastructure and health IT.

Tom Walsh, chairman of SwedishAmerican's board, showed enthusiasm about the merger. "It provides significant new investment in this community and respects the strong history and tradition of SwedishAmerican by maintaining existing leadership and local decision-making, including major sponsorship of important community projects and other nonprofit agencies," he said.

The systems expect the transaction to be finalized by January 2015.

More articles on healthcare industry transactions:

Centura Health, DaVita HealthCare Partners form joint venture
Phelps Memorial Hospital Center to join North Shore-LIJ Health System
Community Health Systems acquires Gaffney Medical Center

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