(WTAQ-WLUK) — Froedtert Health will take sole ownership of Wisconsin-based insurer, Network Health.
Froedtert Health and Ascension Wisconsin signed an agreement that will allow Froedtert Health to purchase Ascension Wisconsin’s interest in Network Health, a provider of customized commercial and Medicare health insurance plans.
Each organization currently has a 50% interest in Network Health, which offers plans for employers, individuals and families in 23 Wisconsin counties.
“The opportunity to acquire 100% ownership of Network Health is consistent with our mission to advance the health of the people of the diverse communities we serve through exceptional care enhanced by innovation and discovery,” said Cathy Jacobson, president and CEO, Froedtert Health. “As a proven health insurance plan that consistently receives top ratings from the Centers for Medicare and Medicaid Services, we’re confident this investment will complement our robust population health strategy, allowing us to care for more people at the right place and at the right time.”
Existing Network Health members will not experience any network disruption resulting from the acquisition. Ascension Wisconsin will extend its provider agreement post-closing to remain in-network for Network Health members.
A closing date will be determined following regulatory review and approval.
