Both organization’s respective Boards have given and approved of a definitive agreement outlining the terms for the future of merging the two companies.
They believe this is an important step in their process to combine the organizations to advance local health care for patients in Wisconsin.
“We are excited to continue the process of bringing our locally-led healthcare organizations together, working in concert with the Medical College of Wisconsin,” said Cathy Jacobson, president and CEO of Froedtert Health. “Creating healthier communities throughout Wisconsin will take a lot of work as we move ahead, and we’re excited that we’re one step closer to embarking on this journey.”
“Our goal is to make a lasting impact on the future of health and health care in our state,” said Jud Snyder, chair of Froedtert Health’s Board of Directors. “This milestone represents important progress towards achieving that goal, and we are excited to have reached this point.”
“ThedaCare and Froedtert Health have long legacies of investing in their communities. Both organizations are committed to helping Wisconsinites live their best lives, and we believe that the best way to do that is by coming together,” said Imran A. Andrabi, MD, FAAFM, ThedaCare president and CEO. “We look forward to further defining how we will combine our organizations to make health care better for everyone we are privileged to serve.”
There are no ThedaCare locations in Southeastern Wisconsin. However, they serve Wisconsinities in other areas of the state.
“Our Board is confident that Froedtert Health and ThedaCare is the right combination, and through our conversations over the last few months, we remain energized by the possibilities that exist to provide the best and most accessible care for the people of Wisconsin,” said Jim Kotek, chair of ThedaCare’s Board of Trustees.
Aiming to combine in 2024
According to a news release, the goal is to launch the combined health system at the start of the new year.
This will be dependent and pending on customary pre-closing conditions, further Board approvals and regulatory approval.
Goals of the merger
In bringing the two together, the combined organization will:
- Help the people of Wisconsin live their unique, best lives, providing better and more seamless access to comprehensive, high-quality care when people are sick or injured and serving as a true partner in health to help keep people well.
- Be based in Wisconsin, led by people who live and work in Wisconsin, and governed by a parent board composed of current board members from both organizations including two board members who serve on both the boards of the Medical College of Wisconsin and Froedtert Health concurrently.
- Deliver real value and bring innovative solutions for the healthcare needs of its state and communities, including addressing health equity, health disparities and more, with a clear commitment to urban, suburban and rural areas.
- Honor and grow the strong legacies of clinical excellence and community commitment that are the shared hallmarks of each organization. The trusted brand names of the existing organizations will continue.
- Work in concert with partners at the Medical College of Wisconsin to bring together every aspect of care, including primary care, specialty care, the most advanced levels of care, clinical trials, graduate medical education, and more.
In addition, the following plans are also in place:
- Froedtert Health President and CEO Cathy Jacobson will initially assume the role of CEO, and ThedaCare President and CEO Imran A. Andrabi, MD, FAAFM will serve as president.
- After a six-month transition period, Cathy will retire from the organization with a legacy of steadfast and thoughtful leadership.
- Upon Cathy’s retirement, Dr. Andrabi will assume the role of president and CEO of the combined organization.
- The initial chair and vice chair roles of the Board and committees will be equally shared between the parties—the initial board chair will be Jud Snyder, Froedtert Health’s current board chair, and the initial vice chair will be Jim Kotek, ThedaCare’s current board chair.
Patients can continue seeing their doctors and accessing the services the same way they always have during the merger process.
Community members can continue to visit an informational website dedicated to covering the process and updates on the combining of the organizations.
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