Ascension Wisconsin and Marshfield Clinic Health System have entered into a non-binding memorandum of understanding (MOU) for the sale of substantially all assets and related operations of Ascension St. Clare’s Hospital in Weston, and Ascension Wisconsin’s interest in The Diagnostic & Treatment Center (DTC) in Weston and Flambeau Hospital in Park Falls, to Marshfield Clinic Health System.
The two healthcare organizations anticipate completing the transaction in spring 2020.
In a press release, Marshfield Clinic Health System CEO, Dr. Susan Turney said that the opportunity to acquire St. Claire's Hospital in Weston means that organization won't be moving forward with announced plans to build a new hospital.
Ascension St. Clare’s anchors the Weston Regional Medical Center, opened in 2005. The Diagnostic & Treatment Center is a co-owned service of Ascension and Marshfield Clinic Health System. Marshfield Clinic and Ministry Health Care, which later joined Ascension Wisconsin, entered into a joint sponsorship agreement in 1994 to operate Flambeau Hospital in Park Falls. a 25-bed critical access hospital.
The two health systems previously reached an agreement that led to Marshfield Clinic Health System’s 2017 acquisition of what is now known as Marshfield Medical Center-Marshfield. The proposed transaction would be subject to receipt of all necessary regulatory and canonical approvals. Additional information will be shared when a final agreement is reached.
The full press release is below.
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October 15, 2019 (WESTON, WI) — Ascension Wisconsin and Marshfield Clinic Health System have entered into a non-binding memorandum of understanding (MOU) for the sale of substantially all assets and related operations of Ascension St. Clare’s Hospital in Weston, and Ascension Wisconsin’s interest in The Diagnostic & Treatment Center (DTC) in Weston and Flambeau Hospital in Park Falls, to Marshfield Clinic Health System.
The two healthcare organizations anticipate completing the transaction in spring 2020.
“This decision was made with the best interests of our patients, communities and associates in mind in the context of the rapidly evolving healthcare landscape in Wisconsin and nationally,” said Bernie Sherry, Senior Vice President, Ascension, and Ministry Market Executive, Ascension Wisconsin. “We will continue to keep patients and families top of mind as discussions continue.”
“Our goal has long been to create an integrated medical campus in Wausau that will allow us to provide the highest quality care close to home for our patients, families and communities,” Marshfield Clinic Health System CEO Dr. Susan Turney said. “With the opportunity to acquire St. Clare’s, we would be able to bring this integrated model to Wausau more quickly than anticipated, and we would not move forward with previously announced plans to build a new hospital.”
Ascension St. Clare’s anchors the Weston Regional Medical Center, which opened in 2005 to address the healthcare needs of central Wisconsin. The Diagnostic & Treatment Center is a co-owned service of Ascension and Marshfield Clinic Health System and offers a broad range of advanced diagnostic, therapeutic and surgical services to meet the needs of all area physicians and their patients.
Marshfield Clinic and Ministry Health Care, which later joined Ascension Wisconsin, entered into a joint sponsorship agreement in 1994 to operate Flambeau Hospital, a 25-bed critical access hospital. The two health systems previously reached an agreement that led to Marshfield Clinic Health System’s 2017 acquisition of what is now known as Marshfield Medical Center-Marshfield.
The proposed transaction would be subject to receipt of all necessary regulatory and canonical approvals. Additional information will be shared when a definitive agreement is reached. Neither healthcare organization is releasing additional details about the acquisition at this time.
