Agreement will increase region’s access to academic medicine.
Milwaukee and Manitowoc, Wis. — Froedtert Health and Holy Family Memorial announced today that Froedtert Health will acquire, under the terms of an agreement between the two organizations, a majority membership interest in Holy Family Memorial. The finalized agreement calls for Froedtert Health to partner with Holy Family Memorial to deliver coordinated, high-quality, academic health care in Manitowoc County. Holy Family Memorial will operate as part of the Froedtert & the Medical College of Wisconsin health network and will maintain its Catholic identity under the sole sponsorship of the Franciscan Sisters of Christian Charity, Inc.
The partnership will enable Holy Family Memorial to adopt Froedtert Health's best practices and will provide Holy Family Memorial with long-term clinical and financial stability.
"Our systems share a similar vision and mission centered on connecting and advancing the health of the communities we serve," said Cathy Jacobson, president and CEO of Froedtert Health. "More so than ever, expanding access to care is paramount, and this partnership will allow us to advance the health of the region through enhanced patient care and connect Holy Family Memorial's patients and employees to the best of academic medicine."
Brett Norell, president and CEO of Holy Family Memorial, added, "This agreement will secure Holy Family Memorial's future and advance health care access and delivery in Manitowoc County, while maintaining the Catholic identity that underpins all we do."
The finalized partnership will ensure that the best quality care at the right time is available to all who use Holy Family Memorial health network. The partnership will bring enhanced services and improve health care access in Manitowoc County, driving community health and wellness outcomes well into the future. As part of the agreement, Holy Family Memorial will maintain its membership in Bellin Health's accountable care organization, Bellin Health Partners.
"For more than 120 years, the mission of Holy Family Memorial has been to serve the health needs of people in and around Manitowoc with quality, compassionate care that reflects Gospel values," said Sister Natalie Binversie, Community Director of the Franciscan Sisters of Christian Charity. "We are grateful to know that our mission will continue through this partnership with Froedtert."
Financial terms were not disclosed.
About Froedtert & the Medical College of Wisconsin
The Froedtert & the Medical College of Wisconsin regional health network is a partnership between Froedtert Health and the Medical College of Wisconsin supporting a shared mission of patient care, innovation, medical research and education. Our health network operates eastern Wisconsin's only academic medical center and adult Level I Trauma Center at Froedtert Hospital, Milwaukee, an internationally recognized training and research center engaged in thousands of clinical trials and studies. The Froedtert & MCW health network, which includes five hospitals, a Community Hospital with two locations, nearly 2,000 physicians and more than 40 health centers and clinics, draws patients from throughout the Midwest and the nation. In our most recent fiscal year, outpatient visits exceeded 1.3 million, inpatient admissions to our hospitals were 52,855 and visits to our network physicians totaled 1,059,268. For more information, visit froedtert.com.
About Holy Family Memorial
Founded by the Franciscan Sisters of Christian Charity, Holy Family Memorial is the recognized leader and largest provider of comprehensive health care services in Manitowoc County. Holy Family Memorial's network of health care professionals, rooted in the healing ministry of Jesus Christ, is committed to providing high quality medical care and dedicated to helping individuals in the communities Holy Family Memorial serves achieve healthier lives.