Minnesota
What's a fair price for University of Minnesota Medical Center?
The proposed deal for the University of Minnesota to buy back its teaching hospital is entering a key phase, with the U and Fairview having hired consultants and exchanged data to determine a reasonable price tag for the sprawling medical center in Minneapolis.
Within the next six weeks, the U and Fairview hope to get close to a consensus on price. If they can, the two sides will move to the next phase of the transaction, which includes a re-write of their complex affiliation agreement, said Myron Frans, senior advisor on the deal to the U’s interim president.
The U and Fairview signed a letter of intent in February to transfer ownership of University of Minnesota Medical Center (UMMC), which the health system acquired in a financial bailout during the 1990s.
Fairview maintains that the sale price must cover the health system’s debt on the facilities, the document notes. The letter also expressed the university’s position that it should not pay more than fair value for the medical center, irrespective of outstanding debt.
“We have to get to some major threshold issues, to make sure we’re on the right track,” Frans said in an interview. “It’s going to be whatever it’s going to be … but our intent would be to do it in less than six weeks.”
He added: “At this point, obviously, we are on track. We don’t have any warning signs.”
Minneapolis-based Fairview Health Services said in a statement: “Everything is on track with the timeline outlined in the [letter of intent].”
The letter of intent came 15 months after Fairview proposed an ill-fated merger with South Dakota-based Sanford Health. U officials opposed the marriage as it would have transferred control of UMMC to an out-of-state entity.
About 70% of physicians practicing in Minnesota trained at the university, where the U hospital is a primary teaching and training venue. Fairview employs about 34,000 people and runs one of the state’s largest health systems.
On Thursday, documents presented to a subcommittee of the U’s board of regents included a timeline with the impending milestone for whether to proceed.
Fairview and the U have each hired consulting firms to help place a value on the hospital, Keith Ghezzi, managing director of Alvarez & Marshal, said during the subcommittee meeting.
“The next major decision point will be after a preliminary valuation has been performed by [each side’s consultant] and we have an opportunity to see how those valuations may align,” Ghezzi said.
As it now stands, the U and Fairview would have a first closing of the transaction by the end of this year, with the U paying Fairview 51% of the negotiated price at that time. Funds for the health system’s remaining stake would be placed in escrow. A second closing, including transfer of the remaining funds, would happen by the end of 2027.
Ghezzi’s firm is one of three consultants the university has hired to work on the proposed acquisition.
“We’re moving forward and we’re thrilled with the expertise the university administration has brought to bear on this,” Janie Mayeron, the board of regents chair, said Thursday after the subcommittee meeting.
Consultants thus have received about half of the data they need from Fairview in order to develop the valuation, Ghezzi said. That’s not a worrisomely small amount, Frans said, noting that it takes time for Fairview to extract financial data on University of Minnesota Medical Center form the health system’s broader financials.
Frans, who earlier this year retired after serving as the U’s senior vice president for finance and operations, is a Fairview board member.
The university wants to own the teaching hospital to control governance and operations, Frans said, including infrastructure investments that could make it easier for patients to receive unique specialty services at UMMC.
“We have a capacity problem — we’re more than full almost every day,” Frans said. “We want to be able to make sure that we provide the access to the people of Minnesota, to that level of care.”
University of Minnesota Medical Center includes a large hospital for adult patients on the East Bank campus as well as a pediatric hospital and inpatient mental health facility near the U’s West Bank campus. Fairview currently owns all three of these facilities.
UMMC also includes a large outpatient surgery and specialty care center on the East Bank campus that’s jointly operated by Fairview and the U in a building that’s owned by the university. The sale would give the U ownership of all four operations.
Minnesota
Minnesota Wild Acquires Defenseman Jeff Petry from the Florida Panthers | Minnesota Wild
SAINT PAUL, Minn. – Minnesota Wild President of Hockey Operations and General Manager Bill Guerin today announced the National Hockey League (NHL) club has acquired defenseman Jeff Petry from the Florida Panthers in exchange for a seventh-round pick in the 2026 NHL Draft. The draft pick becomes a fifth-round selection in the 2026 NHL Draft if Minnesota wins two playoff rounds and Petry plays in 50 percent or more of the Wild’s playoff games during those first two rounds.
Petry, 38 (12/9/1987), owns eight assists, 22 penalty minutes and 45 shots on goal in 58 games for Florida this season. The 6-foot-3, 207-pound native of Ann Arbor, Mich., has recorded 393 points (96-297=393), 103 power-play points (24-79=103), 1,745 shots on goal and 1,616 blocked shots in 1,039 games across 16 NHL seasons with the Edmonton Oilers (2010-15), Montreal Canadiens (2015-22), Pittsburgh Penguins (2022-23), Detroit Red Wings (2023-25) and Florida (2025-26). He has also amassed 13 points (5-8=13) and 90 shots on goal in 48 postseason games across four Stanley Cup Playoff appearances (2015, 2017, 2020, 2021), all with Montreal.
Petry skated in the 1,000th game of his NHL career with Florida on Nov. 17 vs. Vancouver after signing with the Panthers as a free agent on July 1, 2025. He served as an alternate captain for Montreal for three seasons (2019-22) and set career-high marks in goals (13), assists (33) and points (46) with the Canadiens during the 2018-19 season. Petry totaled 28 points (7-21=28) in 51 career American Hockey League (AHL) games in parts of three seasons (2009-12) with the Springfield Falcons (2009-10) and Oklahoma City Barons (2010-12), and represented the United States at the 2012, 2013, 2014 and 2024 IIHF World Championships, earning a bronze medal with Team USA in 2013. He was originally selected by Edmonton in the second round (No. 45 overall) of the 2006 NHL Draft. He will wear sweater No. 2 with Minnesota.
Minnesota travels to play the Vegas Golden Knights tomorrow, March 6, at 9 p.m. CT on FanDuel Sports Network and KFAN FM 100.3.
Minnesota Wild single-game tickets are on sale now at wild.com/tickets, ticketmaster.com and at the Grand Casino Arena Box Office. Flex, 11-Game, half and full season memberships are also available for purchase. Please visittickets.wild.com or contact a Wild Ticket Sales Representative by calling or texting (651) 222-WILD (9453) for more information. Group reservations of eight or more tickets can contact [email protected] for more information. Single game suite rentals are also available, contact [email protected] for more information or book instantly at wildsuites.com.
Follow @mnwildPR on X and visit www.wild.com/pressbox and for the latest news and information from the team including press releases, game notes, player interviews and daily statistics.
Minnesota
Minnesota’s oldest operating theater is in danger of closing it’s doors
One of the oldest operating theaters in the Midwest is in danger of closing its doors for good.
If you’re heading south on Highway 15, Fairmont, Minnesota, is your last gasp before you hit Iowa. It officially became a city in the late 1800s — and not long after, the Opera House was born.
“We are the oldest, operating, continuously operating theater in the state of Minnesota,” said Jane Reiman, a lifelong resident of Fairmont.
When the doors opened in 1901, operas, musicals, plays, and concerts—drew people from across southern Minnesota, and even from Iowa and South Dakota.
“We have done a lot of entertainment over the years.”
The rock band America once performed at the opera house, as did folk legend Arlo Guthrie. In the 1990’s, the opera house even got a visit from Paul McCartney. His family bought seats.
“They came here and sat in the chairs, and now we have plaques on the chairs to memorialize them.”
In 3rd grade Blake Potthoff went to his first performance at the theater, and later, he acted on stage.
“You’ve grown up with this opera house?” asked WCCO’s John Lauritsen.
“Yeah. Absolutely, it’s a part of me even before I became executive director,” said Potthoff.
But like everything else, the theater has aged over time, to the point that it’s going to cost more than $4 million just to keep it running. If they can’t raise the money, the Opera House may have already seen its final curtain call.
“The building is on life support, and we are doing everything we can to make sure we get back to surviving and thriving,” said Potthoff.
Scaffolding is there, just to reinforce the roof; that’s the biggest expense. But the Fairmont community is starting to respond. Grants and donations have raised $1.5 million so far—still short, but a start.
When renovations are complete, they’d also like to maintain the old character of this theater. That includes this hand-cast plaster, which is also 125-years-old.
The chandeliers were installed a decade before the Titanic sank, and they’re hoping to keep those too. For Blake and others, the show has to go on. For the people in the seats, the actors on stage, and for the livelihood of a small town.
“There’s reason to save this building. That $4 million isn’t impossible. Only improbable. And I truly believe it too. I have a history of performing here. And I have two young kids. I want them to perform on stage like I had the opportunity,” said Potthoff.
Minnesota
Lawmakers demand Keith Ellison resign as Minnesota fraud grilling turns brutal
WASHINGTON (TNND) — Rep. Clay Higgins (R-LA) called on Minnesota Attorney General Keith Ellison to resign during the House Oversight Committee’s hearing on the widespread fraud in Minnesota.
Higgins began his line of questioning by referring to Ellison’s open statement.
“Under Minnesota law, my Office has limited jurisdiction over criminal matters. The only kind of criminal case we can prosecute on our own is Medicaid fraud; any other criminal case must be specifically referred to us by county attorneys or the Governor,” Ellison said in his opening statement.
Higgins stated Ellison said that his office only had the authority to investigate Medicaid fraud, to which Ellison nodded his head in response.
But, Higgins pointed out that was incorrect.
“Under your own law, you have authority if the county district attorney asks you to get involved, or if the governor asks you to get involved, then your office can take the lead on any criminal investigation,” Ellison said.
Ellison remained speechless after Higgins asked him if that his statement was correct.
“So you have the authority to lead your state’s effort to respond to this massive fraud at the state level, from within the health care realm, where government money has been stolen at very, very high levels, unprecedented levels, in your state,” Higgins said.
“Are you leading that effort for the state of Minnesota?”
Ellison replied but his response was not picked up by the microphone.
“You’re addressing it,” Higgins asked. “Are you leading it?”
Ellison responded, “we are leading the effort to prosecute Medicaid fraud.”
“I’m not talking about Medicaid fraud,” Higgins yelled.
“Don’t hide behind that. You have the authority to prosecute anything criminally that the governor asked you to. And this thing is big.”
“I’m giving you an opportunity, sir. Are you leading the criminal investigative effort into this massive fraud across the board in the healthcare spectrum, in the state of Minnesota or not,” Higgins continued.
Ellison replied, saying his office was “following the law,” prompting Higgins to interject.
“You are not leading,” Higgins responded. “You’re not leading. I must say, Mr. Chairman, that the Attorney General of Minnesota should resign.”
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