Healthcare group to buy, reopen former HSHS hospital
The Chippewa Valley Health Cooperative, an independent nonprofit organization, has finalized a purchase agreement with Hospital Sisters Health System for the St. Joseph's Hospital building in Chippewa Falls, Wis. This follows the initial letter of intent signed between the two parties in December. Last year, Springfield, Ill.-based HSHS closed St. Joseph's and Sacred Heart Hospital in Eau Claire, Wis., terminating its presence in Western Wisconsin. The cooperative aims to begin providing patient care as soon as possible. Using the Chippewa Falls medical building as an interim healthcare facility will allow the organization to provide critical healthcare services while progressing with the development of another "future-focused hospital" in Lake Hallie, Wis. The cooperative has 90 days to complete due diligence to determine the financial feasibility of reopening the facility. If viable, it could welcome patients to the St. Joseph's campus by winter 2025. "We are thankful that HSHS has worked collaboratively with the Cooperative while we ironed out the details of the contract," Robert Krause, chair of the cooperative, said in a March 13 news release. "We've made good progress in our due diligence process during that time and are moving forward as quickly as possible with the rest of the required due diligence now that we have full access to the facility." Mike Sanders, managing director of 1100 Partners and former CEO of Monroe (Wis.) Clinic, has been working with the cooperative and emphasized the importance of the interim facility. "While the cost to modernize and make the existing facility financially feasible for the next 50 years is prohibitive, we hope we can open it and fill a critical need in the near and short term. We believe most expenditures required to open the Chippewa Falls facility will be transferrable to the new hospital and give us a leg up on operations." The cooperative said it will continue to provide updates as progress unfolds.
The Chippewa Valley Health Cooperative, an independent nonprofit organization, has finalized a purchase agreement with Hospital Sisters Health System for the St. Joseph's Hospital building in Chippewa Falls, Wis. This follows the initial letter of intent signed between the two parties in December.
Last year, Springfield, Ill.-based HSHS closed St. Joseph's and Sacred Heart Hospital in Eau Claire, Wis., terminating its presence in Western Wisconsin.
The cooperative aims to begin providing patient care as soon as possible. Using the Chippewa Falls medical building as an interim healthcare facility will allow the organization to provide critical healthcare services while progressing with the development of another "future-focused hospital" in Lake Hallie, Wis.
The cooperative has 90 days to complete due diligence to determine the financial feasibility of reopening the facility. If viable, it could welcome patients to the St. Joseph's campus by winter 2025.
"We are thankful that HSHS has worked collaboratively with the Cooperative while we ironed out the details of the contract," Robert Krause, chair of the cooperative, said in a March 13 news release. "We've made good progress in our due diligence process during that time and are moving forward as quickly as possible with the rest of the required due diligence now that we have full access to the facility."
Mike Sanders, managing director of 1100 Partners and former CEO of Monroe (Wis.) Clinic, has been working with the cooperative and emphasized the importance of the interim facility. "While the cost to modernize and make the existing facility financially feasible for the next 50 years is prohibitive, we hope we can open it and fill a critical need in the near and short term. We believe most expenditures required to open the Chippewa Falls facility will be transferrable to the new hospital and give us a leg up on operations."
The cooperative said it will continue to provide updates as progress unfolds.
