|4/11/2013 9:40:00 AM|
Fairview Health Services, Sanford merger talks discontinued
Sanford Health notified Fairview Health Services April 10 that they are withdrawing from partnership discussions.
“We understand why they would choose to step back at this time, but the news comes as a disappointment,” says Chuck Mooty, Fairview interim CEO and Fairview Board Chair. “Our initial findings about a Fairview/Sanford partnership were positive and the Fairview Board was committed to fully understanding its potential benefit to our patients and communities. However, we respect Sanford’s decision and our Board’s current assessment of a Sanford partnership will stop.”
In addition, Fairview says the University of Minnesota will engage in a collaborative process to discuss strengthening the existing partnership between Fairview and the University.
“Clearly, we need to ensure strategic alignment between us before we can advance new ideas for the future,” says Mooty. “However, we feel it is not the time to discuss any proposal that involves the University acquiring Fairview. As a result, our work to evaluate that proposal will stop.” With clarity reached on the two specific partnership ideas that were advanced, Fairview will be moving forward with its search process to identify a new CEO.