Memphis, Tenn.-based St. Jude Children's Research Hospital announced it will increase funding for its study and treatment of pediatric catastrophic diseases by $1.4 billion, bringing the total for its six-year strategic plan to $12.9 billion.
The expansion will also create 2,300 new jobs and double the hospital's campus in the next decade, according to a press release shared with Becker's. It is the largest expansion in the hospital's history.
Additionally, the expansion allows for increased global treatment for "low- and middle-income countries." The hospital found that children in these areas have a cancer survival rate of under 20 percent, whereas 80 percent of U.S. children with the same conditions are able to be cured.
"Even before last year's strategic plan launch, we began to explore the possibility of further expanding the budget and staffing numbers," said James R. Downing, MD, St. Jude Children's Research Hospital president and CEO. "Working with internal and external subject-matter experts we developed a proposal for opportunities where a larger investment would help accelerate research and treatment for childhood catastrophic diseases. With these increases, we are better positioned to build on the outlined plan, as well as capitalize on emerging technologies and discoveries."
The strategic research and treatment plan first rolled out in July 2021, its success leading to the expansion.