Boston Children's Hospital Takes Stake in For-Profit Genomics Company

Boston Children's Hospital and biotechnology firm Life Technologies have launched Claritas Genomics, a for-profit joint venture that will look to develop new genomics-based healthcare solutions.

Boston Children's, a non-profit, 395-bed teaching affiliate of Harvard Medical School, will be the majority owner. In a statement, hospital President and CEO Sandra Fenwick said the new company also aims to "advance the standard of care" through genomic sequencing and molecular diagnostics and extend the experiment to others around the country and world.

Investor-owned Life Technologies recorded sales of $3.7 billion in 2011.

More Articles on Non-Profit Hospital Finances:

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