Hennepin Faculty Associates of Minneapolis, a private 1,000-employee physicians group, will combine with Hennepin Healthcare System, which is owned by the surrounding county.
Minn. docs group, health system merge
The deal will take effect Jan. 1. The physicians group entered into a contract in 1984 to provide the majority of services at 471-bed Hennepin County Medical Center. The existing relationship also included doctors being directly employed before 1984 by Hennepin County to provide services at the hospital. Officials said the deal would not alter caregiver relationships.
Terms of the deal include the transfer of HFA's downtown Minneapolis campus used for administration and clinics and several HFA-owned clinics. A direct payment wasn't made as HFA is a not-for-profit organization. The physicians group also lacks outstanding debt.
"With integration we are able to preserve the quality of medical care and teaching while changing the operational structure to ensure that the provision of patient-centered care and teaching tomorrow's healthcare professionals remains our primary focus,” Dr. Donald Jacobs, HFA chairman and CEO, said in a news release.
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