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WAUSAU, WI (WSAU) — Wausau-based Aspirus Health and St Luke’s have signed a definitive agreement, moving the health systems one step closer to merging.
According to a news release from Aspirus on Monday, the two sides have agreed that Aspirus will spend $300 million to fund strategic projects undertaken by St Luke’s over the next eight years. Aspirus Health plan will also expand into the St. Luke’s service area and will begin integrating systems within 24 months of the deal closing.
The Aspirus and St Luke’s merger will create a multi-state network featuring 19 hospitals and 130 outpatient locations with nearly 14,000 team members, including 1,300 employed physicians and advanced practice clinicians. The system will operate headquarters in Wausau, and maintain a corporate office in Duluth, Minnesota.
“For more than 140 years, we’ve taken great pride in caring for this region,” said Eric Lohn, St. Luke’s Co-President/CEO and Chief Financial Officer. “With the challenges facing the health care industry, including St. Luke’s, we believe that now is the time to affiliate. We are confident that Aspirus is the right partner to help us further grow and continue providing the best level of care for the next 140+ years.”
The deal still requires approval from regulators, which is expected to come by spring 2024.
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