MADISON, Wis. -

A health system in Rockford, Ill., will merge with University of Wisconsin Health in Madison under an agreement announced Tuesday.

SwedishAmerican Health has had an affiliation with UW Health since 2010 that led to the creation of a $40 million cancer center that opened in October, according to a release.

“As UW Health grows, we are looking for partners who share a commitment to promoting the health of the communities they serve, and SwedishAmerican has made that commitment,” said Dr. Jeffrey Grossman, Senior Associate Dean for Clinical Affairs at the University of Wisconsin School of Medicine and Public Health, and president and CEO of UW Medical Foundation.

According to the release, the SwedishAmerican Board of Directors wanted the system to broaden its reach, reduce costs and get access to capital and technology.

The CEO of SwedishAmerican will continue to serve and report to the boards of both organizations.

The merger is subject to regulatory approval.