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Freodtert Health and ThedaCare signed a letter of intent to merge, forming a roughly $5 billion system with 18 hospitals in Wisconsin.
Milwaukee-based Froedtert and Neenah-based ThedaCare announced the combination Tuesday.
Froedtert and ThedaCare launched a joint venture in October to build two micro-hospitals in Fond du Lac and Oshkosh, which will feature fewer inpatient beds than typical hospitals and outpatient services. The hospitals are slated to be completed in 2024.
Froedtert reported $95.9 million of operating income on $3.35 billion of revenue in 2022, down from $221.9 million of operating income on $3.11 billion of revenue in 2021.
ThedaCare reported $10.3 million of operating income on $1.19 billion of revenue in 2022, down from $48.4 million of operating income on $1.16 billion of revenue in 2021, according to its unaudited annual financial statement.
This is a developing story, please check back for updates.
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