COLUMBIA, S.C., April 26 /PRNewswire/ -- The leaders of Palmetto Health, Greenville Hospital System, the Medical University of South Carolina (MUSC) and the University of South Carolina (USC) today signed a memorandum of understanding to establish the South Carolina Health Sciences Collaborative (SCHSC). The unprecedented initiative calls for four of the state's largest universities and hospital systems to invest a total of $80 million over the next ten years to increase health sciences research, drive economic development and improve the health status of the citizens of South Carolina.
Making the announcement were Palmetto Health CEO Kester Freeman, Greenville Hospital System CEO Frank Pinckney, MUSC President Dr. Ray Greenberg and USC President Dr. Andrew Sorensen.
Each partner intends to contribute $2 million per year -- a total of $8 million per year -- which is eligible for state matching contributions. With the state's Endowed Chairs Program match the monies available for health sciences research comes to $16 million per year, or $160 million for ten years. The Endowed Chairs Program also creates incentives for endowments for professors in research areas, which in turn spurs economic development for the state of South Carolina.
"The investments in health sciences research that will result from this collaboration, give South Carolina the fuel we need to attract more researchers, generate more and better research, secure more national funding, and attract more out-of-state businesses that will want to take advantage of the intellectual powerhouse we create," said Freeman. "Equally important, it allows us to develop more effective treatment options, directly enhance quality care and outcomes for patients, thereby improving the health of South Carolinians."
Pinckney, Greenberg and Sorensen agreed that today's announcement goes far beyond business as usual. "Academics in action benefits communities," said Pinckney. "The transfer of knowledge from research being done at our hospitals and universities to private business fuels the well-being of our communities. The Health Sciences Collaborative is not just a first for South Carolina, it's the first of its kind in the nation. And it probably couldn't have happened in any other state."
For Information Tammie Epps Palmetto Health 803.434.4903 tammie.epps@palmettohealth.org Russ McKinney University of South Carolina 803.777.1234 chip@gwm.sc.edu
Palmetto HealthCONTACT: Tammie Epps of Palmetto Health, +1-803-434-4903, ortammie.epps@palmettohealth.org; or Russ McKinney of University of SouthCarolina, +1-803-777-1234, or chip@gwm.sc.edu
Web site: http://www.palmettohealth.org/