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Fairview adds Grand Itasca Clinic & Hospital to system

Grand Rapids, Minn.-based Grand Itasca Clinic & Hospital became a wholly-owned subsidiary of Minneapolis-based Fairview Health Services on Jan. 1. 

Grand Itasca will keep its name and local board of 12 directors, adding three Fairview representatives as a part of the transaction. No staffing changes are expected at Grand Itasca.

Mike Youso, Grand Itasca CEO, said in a hospital statement that "becoming part of the Fairview system offers many opportunities" and the "relationship provides access to specialty care through Fairview and University of Minnesota Health and the opportunity to expand clinical services to better serve our community."

Mr. Youso told Business North Grand Itasca started eyeing a partnership with Fairview in 2016. The Grand Rapids hospital's board has been contemplating a health system partnership over the last three years.     

James Hereford, president and CEO of nonprofit Fairview, said the "partnership expands Fairview's reach in northern Minnesota, which already includes Fairview Range Medical Center in Hibbing. With two sites in northern Minnesota, we can more effectively recruit new specialty care physicians who live and practice in the community."    

More articles on hospital transactions and valuations:
Envision acquires 16-physician anesthesia group in Arizona
UW Health, Marshfield Clinic drop out of Wisconsin's AboutHealth network
9 latest hospital transactions and partnerships

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