Froedtert paid $29.9M for majority stake in Wisconsin hospital

Marissa Plescia (Twitter) - Print  | 

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.

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