Froedtert to fully acquire insurance provider serving 23 Wisconsin counties, 117K people

Froedtert Health this week announced plans to buy out another health system’s share of an insurance provider that serves 23 Wisconsin counties and 117,000 people.

Ascension Wisconsin has agreed to sell its 50 percent interest in Network Health to Froedtert, after the two health care providers previously split ownership 50-50, according to Froedtert’s announcement. The sale still needs to be approved by regulators.

In a statement, Froedtert President and CEO Cathy Jacobson said acquiring 100 percent ownership of Network Health is consistent with the organization’s mission.

“As a proven health insurance plan that consistently receives top ratings from the Centers for Medicare and Medicaid Services, we’re confident this investment will complement our robust population health strategy, allowing us to care for more people at the right place and at the right time,” she said.

According to Froedtert, current Network Health members will not be affected by the acquisition, as Ascension plans to extend its agreement with the insurer after the sale to remain in-network.