Myron Frans
MINNEAPOLIS – University of Minnesota officials plan to ask the legislature for $300 million as an “upper limit” to buy back their Minneapolis campus teaching hospitals from Fairview, and also want $650 million for initial operating expenses.
“We cannot do this without state support,” Senior Vice President of Finance Myron Frans said. “Stepping into this role requires us to have the assets to make sure that we actually can succeed at running these facilities on our campus.”
Franz says the $650 million includes working capital, reserves against projected losses, and he anticipates it will take one to two years to fully turn things around.
“The key really is to make sure that we turn this into a break-even or better,” Frans said.
Fairview’s proposed merger with South Dakota-based Sanford Health is prompting the request.
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