Home Industries Banking & Finance Health care deals highlight biggest M&A transactions of the year

Health care deals highlight biggest M&A transactions of the year

Froedtert Health merged with ThedaCare at the start of 2024.
Froedtert Health merged with ThedaCare at the start of 2024.

The trend of health care consolidation continued last year as Milwaukee-based Froedtert Health and Neenah-based ThedaCare agreed to merge their two health systems. The combined entity, known as Froedtert ThedaCare Health Inc., launched Jan. 1. Froedtert president and CEO Cathy Jacobson will lead the organization for the first six months before retiring, at which point

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Arthur covers banking and finance and the economy at BizTimes while also leading special projects as an associate editor. He also spent five years covering manufacturing at BizTimes. He previously was managing editor at The Waukesha Freeman. He is a graduate of Carroll University and did graduate coursework at Marquette. A native of southeastern Wisconsin, he is also a nationally certified gymnastics judge and enjoys golf on the weekends.
The trend of health care consolidation continued last year as Milwaukee-based Froedtert Health and Neenah-based ThedaCare agreed to merge their two health systems. The combined entity, known as Froedtert ThedaCare Health Inc., launched Jan. 1. Froedtert president and CEO Cathy Jacobson will lead the organization for the first six months before retiring, at which point Dr. Imran Andrabi, president and CEO of ThedaCare, will take over. Jud Snyder, regional president – Midwest for BMO Wealth Management, is board chair of Froedtert ThedaCare Health and Jim Kotek, retired president and CEO of Menasha Corp., is vice chair. Froedtert also acquired sole ownership in Menasha-based Network Health from Ascension Wisconsin. The two health systems previously each had 50% ownership of the providers of commercial and Medicare health insurance plans. In another health care-related deal, Milwaukee-based Physicians Realty Trust, a real estate investment trust that invested in medical facilities, merged with Denver-based Healthpeak Properties. The all-stock deal was described as a “merger of equals” and valued the combined entity at $21 billion. Healthpeak shareholders ended up with 77% ownership of the combined company, which kept the Healthpeak name but the Physicians Realty Trust stock ticker “DOC.” The companies also said they would keep an office in Milwaukee. BizTimes Milwaukee regularly covers M&A deals at biztimes.com. Here’s a look at other notable local transactions from the past year with terms provided if available:

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