Fairview Health Services, a century-old Minnesota institution which includes the University of Minnesota Medical Center, may be acquired by Sanford Health of Sioux Falls, S.D.
Attorney General Lori Swanson said Tuesday that she will hold the first public hearing for the potential takeover on April 7, 2013.
"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. "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."
Fairview generates more than $2 billion in annual revenue, a press release said, has a net worth of about $1.2 billion and employs about 22,000 Minnesotans.
A 1997 Affiliation Agreement merged the University of Minnesota Medical Center and clinics with Fairview. The agreement runs through 2026 and could see another 60-year renewal. Swanson said the University of Minnesota Medical School trains about 70 percent of Minnesota doctors.
Sanford Health currently has locations in 126 communities in eight states. The system employs 26,000 people, and is the largest employer in North and South Dakota.