Expansion Plans for Versiti Blood Research Institute Win Key Support from Wisconsin's Joint Committee on Finance

MILWAUKEE, June 7, 2023 /PRNewswire/ -- Versiti Wisconsin expresses its sincere gratitude to the members of the Joint Finance Committee for approving a $10 million grant to expand Versiti's Blood Research Institute (VBRI). The investment from the state will be part of a $63.5 million project that will also include donations and private funding to build a state-of-the-art 65,000 square foot addition at Versiti's blood research facility on the Milwaukee Regional Medical Center campus in Wauwatosa, Wisconsin.

"We are grateful to Governor Evers for including this project in his budget proposal and for the members of the Joint Finance Committee for choosing to invest in these life-saving endeavors," said Chris Miskel, president and CEO of Versiti. "Blood conditions, such as leukemia, lymphoma, thrombosis, sickle cell disease and hemophilia, have no geographic boundary. They impact every community in Wisconsin and people around the globe. This project will promote the discovery of life-saving therapies for a broad range of blood conditions."

The VBRI is recognized as one of the world's premier blood health research centers, attracting attention from the international scientific and health communities, national organizations and federal agencies, such as the Department of Defense. Data generated at the VBRI have led to higher-quality treatments, improved patient outcomes and life-altering medical discoveries, as well as reduced costs for hospitals, hospital systems and other healthcare providers.

"Hematology research promotes progress in diagnosis and treatment across many fields of medicine. Being able to expand upon this work could make the difference in millions of lives across the country," said Dr. Michael Deininger, EVP and chief scientific officer of the Versiti Blood Research Institute. "With the state's investment in this expansion we will keep Wisconsin at the heart of cutting-edge, life-saving blood research." 

As a result of the expansion, Versiti will create more than one hundred new jobs, generate an estimated $19 million in additional tax revenue for the state over 30 years and by 2050, it is expected to have an economic impact for the state of Wisconsin of more than a half billion dollars.

The VBRI currently gets more funding from the National Institutes of Health (NIH) than any other blood center in the nation and leads the state of Wisconsin in the amount of NIH funding per investigator. As a result of the expansion, Versiti projects that it will draw an additional $14 million a year in grant funding from the federal government.

The proposed appropriation, along with the overall biennial state budget, now awaits approval of both houses of the legislature and Governor Evers' signature in order to become law. Versiti looks forward to continuing to earn broad, bi-partisan support to advance this critical project through the remaining steps of the budget process.

Versiti is a 501(c)(3) not-for-profit headquartered in Milwaukee, with more than 2,200 employees at its locations in Illinois, Indiana, Michigan, Ohio, Texas and Wisconsin. For more information visit Versiti.org/InvestingInHope.

About Versiti

Versiti is a world-class blood health organization with locations across the Midwest. Headquartered in Milwaukee, Versiti was formed with a mission of service to improve patient outcomes, advance the field of personalized medicine and strengthen the health of communities everywhere. We are deeply rooted in the communities we serve, providing innovative, value-added solutions in the fields of transfusion medicine, transplantation, and blood-related diseases. From research and diagnostic testing to the sharing of lifesaving gifts through blood, organ and tissue donation, the collective efforts across Versiti result in more hope for the communities that trust us. For more information, visit Versiti.org.

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SOURCE Versiti