University of Minnesota to seek control of campus hospitals as part of Fairview-Sanford merger

The University of Minnesota wants the state to help it buy — and expand — its Twin Cities teaching hospital.

• The plan, outlined by U leaders yesterday, includes a "state of the art" medical center that would eventually be developed on the East Bank campus.

The big picture: The announcement comes as Fairview Health Services, the current operator of the University of Minnesota Medical Center, moves towards a potential merger with South Dakota-based Sanford Health.

The big price tag: A top U official said Thursday that there's "no way" the new facility would cost less than $1 billion, the Star Tribune reports. Construction could take five years.

• A U spokesperson told Axios a full estimate is not available, but said the U is "prepared to commit to this investment" in addition to the needed state aid.

Between the lines: U officials have raised concerns about how the merger would impact its medical center.

• Executives with Fairview and Sanford have said they would be open to the U buying back the hospital as part of the deal.

What to watch: Attorney General Keith Ellison is reviewing the proposed Fairview-Sanford merger and is expected to announce whether his office will seek to intervene in the plan by the end of the month, per MPR News.