St. Jude Children's Research Hospital Boosts its 6-Year Financial Plan

The additional funds will be used to create more jobs and make greater investments in the organization's scientific efforts.

St. Jude Children's Research Hospital—a $2 billion nonprofit health system focused on treating, researching, and curing terminal illnesses in children—has updated its 2022-2027 strategic plan and investing an additional $1.4 billion to the institution’s six-year operating and capital budget, bringing the total to $12.9 billion.

As part of the expanded investment, St. Jude will increase the number of planned new jobs to 2,300 from 1,400 and increase its renovation and capital funding to $2.3 billion, from $1.9 billion. The plan was started on July 1, 2021, and is the largest strategic expansion in the organization’s 60-year history, according to St. Jude.

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St. Jude will use the newly allocated funds to increase investments in fundamental science, providing researchers with greater insight into why diseases develop, spread, and even resist treatment. St. Jude will also increase its investments in global childhood cancer care by providing training to doctors and nurses on an international level.

"Even before last year’s strategic plan launch, we began to explore the possibility of further expanding the budget and staffing numbers," James Downing, M.D., St. Jude president, and CEO, said in a company announcement. "Working with internal and external subject-matter experts, we developed a proposal for opportunities where a larger investment would help accelerate research and treatment for childhood catastrophic diseases. With these increases, we are better positioned to build on the outlined plan, as well as capitalize on emerging technologies and discoveries."