Proposed Acquisition of Control of Security Health Plan of Wisconsin, Inc.

​​​Last Updated: October 9, 2024

Information on the Acquisition of Control of Security Health Plan of Wisconsin, Inc. by Sanford

On September 17, 2024, Sanford (the “Applicant”), a North Dakota nonprofit corporation, filed a Form A filing in the matter of the acquisition of control of Security Health Plan of Wisconsin, Inc. (SHP, the “Domestic Insurer”).  Pursuant to the Affiliation Agreement dated September 13, 2024, by and between Sanford and Marshfield Clinic Health System, Inc. (MCHS), Sanford will become the sole member of MCHS.  SHP, as a subsidiary of MCHS, would therefore be controlled by Sanford as of the effective date of the transaction.

As required by Wisconsin law, a Public Hearing is required concerning this application for change of control. 

Public Comment
Interested parties are encouraged to submit written comments to OCI at any time prior to the public hearing. Written comments may be emailed to OCI at: OCICompanyLicensing@wisconsin.gov. Please include the transaction title in the subject line of the email. Comments received are public record and will be posted to this webpage. 

Filings

• Transmittal Letter
  
• Confidential Supplement Cover Letter
  
• Form A Statement
  
• Affiliation Agreement – Redacted
  
• Affiliation Agreement, Continued – Redacted
  
• Affiliation Agreement – Unredacted [CONFIDENTIAL]
• ​Amended and Restated Articles of Incorporation of SHP [UNDER REVIEW]
• Proposed Amended and Restated Bylaws of SHPW
  
• Pre-Transaction Organizational Chart for the Domestic Insurer
  
• Pre-Transaction Organizational Chart for the Applicant
  
• Post-Transaction Organizational Chart
  
• Lists of Trustees and Executive Officers of Sanford
  
• Lists of Proposed Directors and Executive Officers of SHPW
  
• Audited Financial Statements of Sanford for the Years Ended December 31, 2023 and 2022
  
• Audited Financial Statements of Sanford for the Years Ended December 31, 2022 and 2021
  
• Audited Financial Statements of Sanford for the Years Ended December 31, 2021 and 2020
  
• Audited Financial Statements of Sanford for the Years Ended December 31, 2020 and 2019
  
• Audited Financial Statements of Sanford for the Years Ended December 31, 2019 and 2018​
  
• Quarterly Financial Statements of Sanford for the Six Months Ended June 30, 2024 [CONFIDENTIAL]
• Directors and Executive Officers Biographical Affidavits [CONFIDENTIAL]
• Financial Projections of the Domestic Insurer [CONFIDENTIAL]
• Business Plan [CONFIDENTIAL]

• Notice of Hearing Notification
• Notice of Hearing
• List of Exhibits
• Recommendation Memo

• Proposed Decision Notification
• Proposed Decision
• Waiver of Right to Object – Domestic Insurer
• Waiver of Right to Object – Applicant

• Final Decision Notification  
• Final Decision