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Ascension to sell 2 Wisconsin hospitals

Ascension Wisconsin has entered into a nonbinding memorandum of understanding to sell two Wisconsin hospitals to Marshfield (Wis.) Clinic Health System.

Under the proposed transaction, Marshfield Clinic Health System will acquire St. Clare's Hospital in Weston, Wis., and Ascension's interest in Flambeau Hospital in Park Falls, Wis., and The Diagnostic & Treatment Center in Weston.

Marshfield Clinic Health System previously announced plans to build a new hospital in Wausau, Wis. However, the system wouldn't move forward with those plans if it acquires St. Clare's Hospital, which is roughly 10 miles from Wausau.

"Our goal has long been to create an integrated medical campus in Wausau that will allow us to provide the highest quality care close to home for our patients, families and communities," Marshfield Clinic Health System CEO Susan Turney, MD, said in a news release. "With the opportunity to acquire St. Clare's, we would be able to bring this integrated model to Wausau more quickly than anticipated, and we would not move forward with previously announced plans to build a new hospital."

The organizations will now work toward finalizing a definitive agreement. They expect the transaction, which is subject to regulatory and canonical approvals, to close in spring 2020.

More articles on healthcare industry transactions:

Meet M Health Fairview, a new brand linking 13 hospitals in Minnesota
Conditions on sale of 4 California hospitals endanger deal
CHS' shrinking hospital portfolio: 12 latest divestitures

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