SSM Heath completed the purchase of two Wisconsin-based health systems in the Congregation of Siblings of St. Agnes, the St. Louis-based provider announced Thursday.
Agnesian HealthCare, located in Fond du Lac, Wis., and Monroe Clinic, located in Monroe, Wis., are actually a part of Catholic-backed SSM Health, fortifying its growing Midwest footprint with the help of four hospitals, eight publish-acute facilities and a large number of outpatient sites. Agnesian includes the 175-bed St. Agnes Hospital, Waupun Memorial Hospital and Ripon Clinic. The 58-bed Monroe Clinic also offers 12 clinic locations, retail and urgent care clinics, along with a homecare and hospice agency.
SSM Health’s integrated healthcare delivery network in Wisconsin now extends into northern Illinois and spans seven hospitals, 10 publish-acute facilities and most 85 physician offices along with other outpatient facilities, in addition to a health plan and pharmacy benefit management company. The business presently has as many as 24 hospitals.
“This partnership is really a natural fit so we expect to cooperating to improve access and enhance quality of care in Wisconsin,” Laura Kaiser, president and Chief executive officer of SSM Health, stated inside a statement.
Alterations in the Wisconsin payer and provider markets combined with altering census from the CSA were the primary motorists behind the offer, executives stated.
The purchase is needed SSM compete within an more and more competitive Midwest market. Downers Grove, Ill.-based Advocate Healthcare and Milwaukee, Wis.-based Aurora Healthcare unveiled plans recently to produce a $10.7 billion mix-condition system with 27 hospitals.
In 2015, SSM acquired St. Louis College Hospital from Tenet Healthcare Corp., which may assist the organization recruit physicians recruiting physicians while supplying use of high-skill care integrated using the community hospitals SSM owns.
In 2016, SSM assumed operating charge of 26 health clinics located within Walgreens pharmacies within the St. Louis region. Executives stated they keep looking for possibilities to include access points where they’ve leading share of the market.
But intends to merge using the Oklahoma College Clinic fell through in March because of the impossibility of mixing a sizable public academic hospital along with a private Catholic healthcare organization, executives stated.In November, SSM Health stated it might cut about 350 jobs to “ensure lengthy-term sustainability.” The system’s operating earnings for that nine several weeks of 2017 was $17 million, shedding from $66.5 million within the same period in 2016. Only its Oklahoma market is constantly on the perform above expectations and SSM continues ongoing cost reductions, revenue cycle enhancements and optimizing acquisitions to boost its operating margins, based on its third quarter earnings report.
Agnesian HealthCare, Monroe Clinic as well as their affiliates will prove to add the SSM Health brand for their names through the finish of 2018.