The University of Minnesota on Thursday announced a proposal to reacquire the teaching hospital it sold to Fairview Health Services in 1997, as well as other Fairview facilities on the U’s Minneapolis campus, the Pioneer Press reports.
In order to improve health care for all Minnesota, UMN must “own, govern and control” the University Medical Center east and west bank facilities, the Masonic Children’s Hospital and the clinic and surgery center that opened in 2016, UMN President Joan Gabel said.
UMN now closely partners with Fairview under the MHealth agreement that began in 2013 and was overhauled in 2018. Fairview benefits from the U’s research while handing over between $50 million and $80 million in annual revenue.
UMN leaders said Fairview would continue to be a key partner if the facilities do change hands.
The acquisition plan likely would require a huge appropriation from the Legislature. The university said it’s not ready to say how much money it would take.
Myron Frans, senior vice president for finance and operations, said they’re working on a funding request of the state, but “We may not get to that number this session.” Read more.
