The University of Minnesota (U of M; Minneapolis) unveiled plans to build a new hospital adjacent to its Twin Cities campus as a part of the U of M’s academic health system in Minneapolis, according to the website

The project would take at least five years and cost no less than $1 billion, according to the website

The plan comes as the University of Minnesota announced that it wants to buy back the University of Minnesota Medical Center, a teaching hospital that Fairview bought 25 years ago, in addition to purchasing Fairview-owned healthcare facilities on the West Bank campus, including M Health Fairview Masonic Children’s Hospital.