The combination of City of Hope and CTCA also can provide the combined organization with the economies of scale that reduce operating costs and provide the opportunity to reinvest those dollars into research, technology and other modes of life-saving innovations that can benefit patients, said Joan Koerber-Walker, president & CEO of the Arizona Bioindustry Association. In Arizona, where CTCA has four locations, we might expect an expansion in programs as well as facilities as more funds become accessible to further the organization’s goals rather than to be paid out as dividends.” Reduce operating costs Such a change for an organization like CTCA is positive when you consider how vital research and clinical trials are in the cancer treatment industry. “Tax concessions for nonprofits also free up funds for use in pursuing goals and objectives that otherwise would be unavailable in a for-profit setting. “Unlike a for-profit business that maximizes revenue for distribution to owners, a nonprofit entity recycles what otherwise would be profit back into the entity to further the entity’s mission and purpose,” Balitis said. Since opening its first hospital in Goodyear in December 2008, CTCA has invested millions of dollars to expand its presence here.Ĭombined, City of Hope and CTCA have 11,000 “team members,” which includes collaborating physicians across California, Arizona, Illinois and Georgia.Ĭity of Hope’s acquisition of CTCA and the transition of CTCA to nonprofit status should enhance and expand its battle against cancer, said John Balitis, chairman of the Labor & Employment Department at Jennings, Strouss & Salmon PLC law firm in Phoenix. Of CTCA’s five community outpatient centers, three are in metro Phoenix: Gilbert, Scottsdale and north Phoenix. After close, City of Hope officials plan to convert CTCA to a nonprofit organization. The deal is expected to close in early 2022, subject to regulatory approval. The nonprofit cancer research institute announced Wednesday that it is in talks to pay $390 million to acquire Boca Raton, Florida-based Cancer Treatment Centers of America, a network of oncology hospitals and outpatient care centers, including in metro Phoenix. Altogether, more than $200 million has been raised through retailer support, consumer programs, event sponsorship, employee participation at events, corporate philanthropy programs, employee giving and personal gifts.California-based The City of Hope, which has had an alliance with Phoenix-based Translational Genomics Research Institute for several years, is about to expand its Arizona presence even further. to support the lifesaving work at City of Hope. City of Hope’s unique “bench-to-bedside” approach, e.g., researchers, physicians, pharmaceutical manufacturing plants and patients, are on the same campus working together bringing tomorrow’s discoveries to the people who need them today.įor more than 40 years, the all-volunteer food industry groups have led efforts in Southern California, Northern California, the Pacific Northwest and the Southwestern U.S. Every day, City of Hope turns science into practical benefit, and hope into reality. This virtual event will bring hundreds of company leaders from retailers, suppliers, manufacturers, distributors and brokers working together to help fund cancer and diabetes research and care.Ĭity of Hope is an independent research and treatment center for cancer and other life-threatening diseases. City of Hope’s Food Industry Circles are proud to announce the Harvest Festival Ball, a virtual fundraiser hosted by the Northern California and Pacific Northwest Food Industry Circles.
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