St. Jude Children’s Research Hospital has committed $ 11.5 billion to a six-year strategic plan that will boost new construction, 1,400 additional jobs, and other projects that will support global research and treatment of pediatric catastrophic diseases.
Described by the research hospital as the largest strategic expansion to date, the plan is “almost entirely fueled” by donations collected through ALSAC, St. Jude’s fundraising and awareness group. It is divided between investments that will expand the hospital’s patient care capacity, clinical research and coordinated international efforts.
“The plan is ambitious and the goals are far-reaching,” said James Downing, MD, president and CEO of St. Jude, in the announcement. “We are deploying significant resources to broaden scientific understanding, improve survival, improve quality of life and connect researchers around the world in their quest to cure and save children with cancer and other deadly diseases . “
St. Jude said this new commitment comes after a $ 7 billion strategic plan that helped the hospital accept nearly 20% more cancer patients, hire 30% more teachers and 23% more staff, and start multiple large-scale construction projects. let go.
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The Memphis, Tennessee nonprofit, founded in 1962, reported $ 2.3 billion in total revenue in its 2019 financial report. Eighty percent of the organization’s funding comes through ALSAC. The hospital said it treats approximately 7,500 patients from the US and beyond each year and does not charge the families of the patients it treats.
The new effort focuses on five areas of focus: basic science, childhood cancer, catastrophic pediatric diseases (such as blood disorders, neurological diseases and infectious diseases), global impact and the workforce and workplace.
More specifically, the hospital outlined $ 1.3 billion in new construction and renovation projects, including family homes, family services for patients, a research center, and other facilities such as administrative buildings.
$ 3.7 billion of the money will go towards cancer research and related clinical care with a focus on high-risk cancers, recurrent diseases and improving survivors’ quality of life.
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$ 1.1 billion will go towards research and treatment programs for catastrophic diseases in children that do not cause cancer. More than $ 250 million will also be invested in new technologies and other resources that can support research in these disease areas.
The hospital is tripling its investment in the St. Jude Global and St. Jude Global Alliance programs to more than $ 470 million. Initiatives in this area include an expansion of global education programs for the workforce, the creation of St. income countries.
The hospital itself will also be looking for nearly 70 new faculty and laboratory support staff across 22 research departments.
“As we move forward with this strategic plan, our mission – to advance the cure and prevention of catastrophic pediatric diseases through research and treatment – continues to be at the forefront of everything we do,” said Downing. “The mission serves as our compass, and the plan serves as our guide to the journey ahead.”