ThedaCare reports Q1 profit of $31.8M ahead of planned merger

Neenah, Wis.-based ThedaCare reported operating income of $3.6 million for the first quarter of 2023 on revenue of $306.4 million.

That positive income compared with an operating loss in the same period of 2022 of $5 million on almost $282.9 million revenue.

Expenses did increase by 5.2 percent in the quarter over the previous year. Overall, ThedaCare reported net income of $31.8 million compared with a $42.2 million loss in 2022.

ThedaCare and Milwaukee-based Froedtert Health are intending to merge, with closing of the transaction expected by the end of the year.

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