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Wheaton Franciscan Healthcare, a holding company that owns a number of healthcare related facilities in the Midwest, has finalized the transfer of ownership of its southeast Wisconsin operations to Ascension, the holding company that owns Columbia St. Mary’s.
Ascension signed a letter of intent in October with the Wheaton Franciscan Sisters to take over all of its operations and corporate services in southeast Wisconsin, which includes eight hospitals, 350 medical group physicians, outpatient centers, transitional and long-term care facilities, home health and hospice, and nearly 11,000 associates as well as its corporate services.
Anthony Tersigni, president and Chief Executive Officer of Ascension, said the two organizations have a long history of serving people living in poverty and the most vulnerable.
“We share a commitment to promoting community and the common good, and advocating for a compassionate and just society through actions and words,” said . “This step is part of an ongoing effort to strengthen Catholic healthcare in the U.S.”Officials with Wheaton said they chose Ascension because the organization has a similar mission and values.
Now that the transfer is completed, Ascension now has 27 hospitals and 150 clinics that employ 24,000 associates. Those entities generated an annual operating revenue of $3.5 billion, according to a joint press release by Ascension and Wheaton Franciscan Healthcare.
“We are pleased to become part of Ascension Wisconsin. This relationship will support our efforts in delivering high-quality, compassionate and personalized care in the communities we serve,” said John Oliverio, president and CEO of Wheaton Franciscan Healthcare.