Science Market Update

New $182.5M Facility at the University of Minnesota Underway

Posted by Jennifer Nieuwkerk on Wed, Feb 05, 2014

The University of Minnesota is partnering with Fairview Health Services to build a new $182.5 million outpatient care center. The new University of Minnesota facility is expected to be complete by early 2016 at the latest. One of the economic benefits of this new partnership is that University of Minnesota faculty physicians will also be able to share directly in the revenue of the center.

Fairview has been the University of Minnesota’s main teaching hospital since 1998. Officials at the university say that the partnership in creating a new Fairview–University of Minnesota outpatient facility will strengthen teaching and research, and it could also provide more financial support and research funding for the Medical School.

"We've been competitive at a clinical level; we're not competitive at an educational level," said Aaron Friedman, the medical school's dean. "We have to better integrate our teaching and research missions into how we manage the hospitals."

In 1996, the University of Minnesota sold what is now the University of Minnesota Medical Center Fairview to Fairview for $87 million. The hospital, which was losing millions per year, has since turned around.

"We had a hospital that threatened to bankrupt the university," said Russell Luepker, a professor of public health who used to practice cardiology at the center. Because of the sale, "that didn't happen, but it led to a very interesting marriage."

 

Research funding at the University of Minnesota

University of Minnesota, Twin Cities

Image courtesy of Wikimedia Commons

 

The University of Minnesota is a life science research powerhouse with 2.2 million square-feet of research space and laboratories and millions of dollars in research funding. The university is also in the process of building a new $52 million life science research building with an estimated date of completion in 2016. The new University of Minnesota facility will house wet and dry labs, offices and work spaces.

In 2012, the Minnesota Medical Foundation raised $50.9 million from 16,000 donors for the University of Minnesota Medical School, School of Public Health, Masonic Cancer Center and units of the Academic Health Center. The Minnesota Medical Foundation also raised $42.7 million for research and program support at the University of Minnesota in 2012.

In 2013, the National Institutes of Health awarded the University of Minnesota $263.6 million in science research funding. One of these grants was a $3.2 million cancer support grant from the NIH for the University of Minnesota Cancer Center. According to the NIH RePORT, “the University of Minnesota Cancer Center (UMCC) is a NCI-designated Comprehensive Cancer Center dedicated to cancer research, education, and patient care for the citizens of the state of Minnesota and surrounding region.”

Some of the primary goals of the University of Minnesota Cancer Center are “to facilitate the research of its members, to foster multidisciplinary approaches to cancer, to provide infrastructure support for the conduct of cancer research, and to lead in the creation of new methods and strategies to reduce cancer incidence and mortality.”

If you are a lab supplier interested in selling lab equipment within the prominent research marketplace at the University of Minnesota, Biotechnology Calendar, Inc. invites you to attend our BioResearch Product Faire™ Event at the University of Minnesota, Twin Cities on May 20th, 2014 and our BioResearch Product Faire™ Front Line™ Event at the University of Minnesota, St. Paul on May 21st, 2014.

Biotechnology Calendar, Inc. is a full-service science research marketing company that organizes life science events at top research universities across the country. If you are located in another region of the United States, we encourage you to view our 2014 calendar of events to find a show near you. For more research funding statistics on the University of Minnesota, or to learn more about our lab product expos at the University of Minnesota, click on the buttons below.

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Tags: 2014, University of Minnesota, University of Minnesota St. Paul, Minnesota, University of Minnesota Twin Cities, BioResearch Product Faire Event, Research Funding, Minneapolis, MN, new facilities, new facility, St. Paul

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