Tampa General Hospital is investing more than $162 million next year in the University of South Florida Health System, its longtime academic partner.
That’s about $100 million more than the amount the hospital paid USF Health five years ago when the organizations formed a formal partnership to integrate patient care, education and research.
The latest commitment comes in the form of a revised partnership agreement approved Wednesday by USF’s Governance Committee on behalf of the school’s Board of Trustees. Tampa General approved the revision on Aug. 6.
The investment will support plans to “increase integration, attract the best suppliers and advance research initiatives, while further strengthening the region’s economic growth and creating jobs,” the statement said.
“At the heart of this agreement is our commitment to providing world-class patient care, growing our state’s health care workforce and advancing research – three goals that are critical to the future of our university and our communities,” USF President Rhea Law said in the statement.
The agreement will come into force on October 1.
“We are setting the standard for the future of health care and now is the time to increase our investments and integrations across the academic health system so we can have an even greater impact on our patients and the health care industry in our state and across the country,” John Couris, president and CEO of Tampa General, said in the statement.
Their collaboration dates back to 1970, when USF agreed to become the primary teaching hospital and training center for Tampa General.
In 2020, they combined clinical practices and administrations under a new formal partnership that allows physicians from both groups to work together to coordinate patient care.
That same year, USF opened a 13-story tower in downtown Tampa to house the USF Morsani College of Medicine, about a mile from Tampa General, which covers about 25 acres on Davis Islands. The hospital paid USF $20 million under a 25-year lease for three floors, or about 25,000 square feet, of space.
Several hundred USF medical students complete clinical rotations at Tampa General each year, along with 726 residents and fellows who also train there. TGH funds programs that support 344 of those residents, as well as more than 70 training programs, the statement said.
Tampa General has made other significant donations to USF in recent years. Last year, the hospital donated $4.4 million over six years to support the planning and implementation of the USF College of Nursing simulation lab on the Tampa campus. The hospital also donated $25 million to the new athletic district on USF’s campus.
“USF Health and Tampa General are stronger together than we could ever be apart,” said Dr. Charles J. Lockwood, executive vice president of USF Health and dean of the USF Health Morsani College of Medicine.
Copyright 2024 WUSF 89.7
