The University of Minnesota on Friday said it intends to purchase the four facilities that make up the M Health Fairview University of Minnesota Medical Center from Fairview Health Services.
The U of M’s Board of Regents on Friday approved a Letter of Intent (LOI), signed by Fairview Health Services, the University of Minnesota and University of Minnesota Physicians, outlining the acquisition.
The facilities in question are both East and West Bank campuses of the M Health Fairview University of Minnesota Medical Center, the M Health Fairview Masonic Children’s Hospital, and the M Health Fairview Clinics and Surgery Center.
“This LOI, and the discussions ahead of us, are critical steps toward more fully integrating education, research, and patient care to better serve Minnesotans statewide,” U of M Interim President Jeff Ettinger stated.
According to a news release, patient care and day-to-day operations at the four health facilities will continue as usual during the ownership transition and no layoffs are planned.