Tampa General Hospital invests $162 million in USF Health as part of renewed partnership

Tampa General Hospital will invest more than $162 million next year in the University of South Florida Health System, its longtime academic partner.

That’s about $100 million more than the hospital gave to USF Health five years ago, when the organizations created a formal partnership to integrate patient care, education and research.

The latest commitment comes in the form of a revised affiliation agreement that was approved Wednesday by the USF Governance Committee on behalf of the school’s Board of Trustees. Tampa General approved the revision on Aug. 6.

The investment is intended to support plans to “increase integration, recruit top suppliers and advance research initiatives while continuing to grow the region’s economy and create jobs,” the statement said.

“At the heart of this agreement is our commitment to providing world-class patient care, expanding our state’s health care workforce and advancing research – three goals that play a vital role in the future of our university and our communities,” USF President Rhea Law said in the release.

The agreement will enter into force on October 1.

“We are setting the standard for the future of health care, and now is the time to strengthen our investments and integrations across the academic health system so we can have an even more meaningful impact on our patients and the health care industry in our state and the country,” Tampa General President and CEO John Couris said in the release.

Their collaboration dates back to 1970, when USF agreed to become the primary teaching and residency program hospital for Tampa General.

In 2020, they combined clinical practices and administrations through a new formal partnership that allows physicians from both groups to work together to coordinate patient care.

That same year, USF opened a 13-story tower in downtown Tampa to house the USF Morsani College of Medicine, a mile away from Tampa General, covering about 25 acres on Davis Islands. The hospital paid USF $20 million as part of a 25-year lease for three floors, or about 25,000 square feet, of space.

Several hundred USF medical students complete clinical rotations each year at Tampa General, along with 726 residents and fellows who also train there. TGH funds programs that support 344 of these residents, as well as more than 70 training programs, according to the release.

Tampa General has made other significant donations to USF in recent years. Last year, the hospital contributed $4.4 million over six years to support the planning and implementation of the USF College of Nursing Simulation Lab on the Tampa campus. The hospital also donated $25 million to the new USF campus sports district.

“USF Health and Tampa General are stronger together than they could ever be apart,” said Dr. Charles J. Lockwood, executive vice president of USF Health and dean of the USF Health Morsani College of Medicine.