The University of Minnesota Board of Regents signed a letter of intent Friday to combine Fairview Health Services and University of Minnesota Physicians into one academic health system under the name M Health.
A board of directors, an integrated physician group, a chief executive officer and a leadership team will lead the new health department, according to a Friday press release.
Regents, Fairview and University
Physicians hope to come to an agreement by March and will start the merging process by July, the release said.
The health systems will create a combined organizational structure and will merge financially, according to the release.
Fairview Board Chair and Interim CEO David Murphy said combining resources and expertise as part of the merger will allow for better collaboration between the groups.
“A patient would now find a more seamless experience at the hospital,” Murphy said.
The merger won’t require additional outside funding, and combining finances will help expand University research, Medical School Dean and Vice President for Health Sciences Brooks Jackson said.
“An academic health center needs to be part of a comprehensive health system in order to be world class in the prevention and treatment of disease and to train the future leaders in the health sciences,” Jackson said in the release. “At the same time, a world-class health system needs access to the leading-edge medical breakthroughs that have the potential to transform patient treatment and care.”
