Ascension Wisconsin, part of the Ascension health system, is divesting seven hospitals (total of 264 beds) in north and central Wisconsin. Three are acute care hospitals, and four are designated as critical access hospitals. The buyer is Aspirus, a nonprofit rural health service with six hospitals in Wisconsin and four in Michigan, 50 clinics, home health and hospice care, pharmacies, critical care and air-medical transport, nursing homes and a broad network of physicians.
No terms were disclosed, but the seven facilities generated $392.2 million revenues for the fiscal year of 2019 and $73.8 million in EBITDA. The divestment includes Eagle River Hospital in Eagle River (14 beds); Good Samaritan Hospital, Merrill (25); Our Lady of Victory, Stanely (24); Sacred Heart Hospital, Tomahawk (15); St. Mary’s (52); St. Michael’s Hospital, Stevens Point (84); and Howard Young Medical Center (50).
The transfer agreement also includes Ascension Wisconsin Spirit Medical Transport, an air and ground medical transportation service, and 21 physician clinics. Ascension will still have 17 hospital campuses in Wisconsin and more than 80 related healthcare facilities. This deal is subject to conditions including regulatory and canonical requirements.
Aspirus actually last reported a deal nearly a year ago, according to search results in our Healthcare Deal Database. The health system added Divine Savior Healthcare, which operates a 43-bed acute care hospital, clinics, a skilled nursing and assisted living facility, home health services, a paramedic-level ambulance service and a childcare center for an undisclosed sum. No terms were disclosed. This transaction closed on October 1, 2020, and the hospital was renamed Aspirus Divine Savior.
