In 2013, the hospital spun off a gene therapy company developing a treatment for blindness that its scientists helped develop. At the time, the hospital agreed to invest $50 million and became the venture’s largest shareholder.
On Feb. 25, the $50 million investment paid off when drug giant Roche Holding agreed to pay $4.8 billion to buy that spinoff drug company — Spark Therapeutics.
The children’s hospital had a 10.6 percent stake in the drugmaker, which means the nonprofit hospital will make about $456 million. The hospital already has made about $285 million from its investment in Spark.
That means the hospital’s total proceeds of $741 million would represent a more than twentyfold return on investment, according to the report. The calculation is based on the roughly $33 million that Spark said the children’s hospital invested.
Read the full report here.
More articles on finance:
EmpowerHMS-owned Oklahoma hospital misses 3rd payroll
California’s proposal to end surprise ER bills: 7 things to know
For-profit hospital stock report: Week of Feb. 18-22
Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit
