Sponsored by VMG Health | info@vmghealth.com | 214.369.4888

Froedtert paid $29.9M for majority stake in Wisconsin hospital

Listen
Text
  • Small
  • Medium
  • Large

Wauwatosa, Wis.-based Froedtert Health acquired an 80 percent controlling interest of Manitowoc, Wis.-based Holy Family Memorial for $29.9 million, according to the health system's recent financial disclosure.

Holy Family Memorial is a consolidated entity with Froedtert through the deal and has a 20 percent non-controlling interest.

Froedtert reported $537,000 in nonoperating gains attributable to Holy Family Memorial since the acquisition date through June 30. It is expected to add about $115 million annually in operating revenue for Froedtert.

Froedtert first acquired the stake March 1.

Copyright © 2021 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars