A little more than four months since Wauwatosa-based
Froedtert Health and Neenah-based
ThedaCare announced
plans to merge into one health system, both organizations have approved a definitive agreement for the merger. The agreement, which outlines the terms of the transaction, is the next noteworthy step forward in the merger process.
“We are excited to continue the process of bringing our locally led health care organizations together, working in concert with the Medical College of Wisconsin,” said
Cathy Jacobson, president and chief executive officer of Froedtert Health. “Creating healthier communities throughout Wisconsin will take a lot of work as we move ahead, and we’re excited that we’re one step closer to embarking on this journey.”
Both organizations hope to launch the new, combined health system at the start of next year, pending customary pre-closing conditions and further regulatory approval.
Within the agreement, both organizations emphasized their goals of providing Wisconsinites with more seamless access to high-quality health care and delivering value and innovative solutions.
As previously announced, following the launch of the combined health system, Jacobson will initially assume the role of CEO.
Dr. Imran A. Andrabi, ThedaCare president and CEO, will serve as president.
After six months, Jacobson will retire. Upon her retirement, Dr. Andrabi will assume the role of president and CEO of the combined organization. The initial chair and vice chair roles of the board and committees will be equally shared between both parties. The initial board chair will be
Jud Snyder, Froedtert Health’s current board chair, and the initial vice chair will be
Jim Kotek, ThedaCare’s current board chair.
“ThedaCare and Froedtert Health have long legacies of investing in their communities. Both organizations are committed to helping Wisconsinites live their best lives, and we believe that the best way to do that is by coming together,” said Andrabi. “We look forward to further defining how we will combine our organizations to make health care better for everyone we are privileged to serve.”
