AG Swanson plans hearing on proposed Fairview takeover

11:38 AM, Mar 26, 2013   |    comments
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ST. PAUL, Minn. - Minnesota Attorney General Lori Swanson says she is investigating the potential takeover of Fairview Health Services by a South Dakota-based company.

Swanson said in a news release Tuesday that she is planning one or more public hearings, set to begin on April 7, to gather input on Sanford Health's proposal to take over Fairview.

Fairview has a deep history in Minnesota, now running many hospitals and clinics throughout the state, including research and training facilities at the University of Minnesota.

Swanson says she's troubled that the fate of an organization integral to Minnesota's health is being decided by a small group of hospital executives.

"Fairview is an integral part of our health care system and exists because of 100 years of goodwill, generosity, and financial support of the people of Minnesota," Swanson said in a news release. "There should be significant public dialogue about any potential transfer of control of this century-old Minnesota charitable institution to Sanford Health of South Dakota."

The AG's office says that Fairview generates more than $2 billion in annual revenue, has a net worth of about $1.2 billion, employs about 22,000 Minnesotans, and reported net annual income of $129 million in its most recently available quarterly financials.

Swanson says her Office decided to conduct public hearings as part of its role as regulator of charitable institutions to give the public the opportunity to participate in this dialogue.

"I am troubled by the notion that a small group of people at Fairview and Sanford would conduct private discussions without the benefit of the public's input regarding a matter of such sweeping consequences for Minnesota when it comes to control of the University health system, the quality of health care for our patients, and our State's economy and international prestige."

 

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