Freodtert Health and ThedaCare signed a letter of intent to merge to form a roughly $5 billion system with 18 hospitals in Wisconsin.
Milwaukee-based Frodort and Nina-based Thedacare announced the combination Tuesday.
Frodort and Thedacare launched a joint venture in October To build two micro-hospitals in Fond du Lac and Oshkosh, which will have fewer patient beds than typical hospitals and outpatient services. The hospitals are planned to be completed in 2024.
Froedtert reports operating income of $95.9 million on $3.35 billion in revenue in 2022, down from operating income of $221.9 million in 2021 on $3.11 billion in revenue.
ThedaCare reported operating income of $10.3 million on $1.19 billion in revenue in 2022, down from $48.4 million in 2021 on $1.16 billion in revenue, according to its unaudited annual financial statement.
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