Over 3,000 life sciences and health care companies employing more than 62,100 workers operate in Tampa and Hillsborough County. Additionally, 14 percent of Florida’s biotech companies and 22 percent of the state’s pharmaceutical and medicine manufacturing workforce call the area home.
Leading experts predict that over the next decade more than $1 trillion in health care spending will migrate to new players, new industry segments, and traditional companies that are delivering on value with an unrelenting focus on driving improved health outcomes and cost containment.
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Tampa and Hillsborough County are at the epicenter of medical innovation in a health care industry striving for transformation amid disruption. Revolutionary breakthroughs in research, simulation, and personalized medicine led by the work of both public institutions and private companies throughout Hillsborough County are changing the DNA of health care.
The transformative arrival of Bristol-Myers Squibb, one of the strongest, most innovative biopharmaceutical companies in the world, marked a new high point for the region. The firm joined a growing list of life sciences companies that have chosen to call Tampa and Hillsborough County home, including Quest Diagnostics, Covidien, HealthPlan Services, Synergy Health, Smart Science Labs, LifeLink, Biologics Development Services, and Xcelience. Hillsborough County’s talented work force, strong university presence, the region’s business climate, economy, quality of life, and availability of the necessary logistics and office facilities were the deciding factors.
The Tampa Bay region is gaining in global reputation as a growing hub for research and development in life sciences. USF Health, University of Tampa College of Natural & Health Sciences, Hillsborough Community College Health Sciences and Nursing programs, and Galen College of Nursing, along with emerging private industries, contribute to the region’s research and innovation as well as training the next generation of scientists, doctors, and technicians.
USF ranked 43rd in the nation for research expenditures among all universities, public or private, with over $428 million in total awards and contracts in 2012. USF also ranked in the top 15 among all universities granted U.S. patents for four years in a row, according to the Intellectual Property Owners Association.
Moffitt Cancer Center, a National Cancer Institute-designated Comprehensive Cancer Center, has become nationally known for its Total Cancer Care model, which combines elements of personalized medicine and access to clinical trials with traditional cancer care. M2Gen, a Moffitt spin-off, has led the creation of the world’s largest repository of cancer-focused clinical and molecular data.
CAMLS, a $38 million facility in downtown Tampa, is on the fast track of becoming the national model for improving medical training and patient safety through technology. The Tampa Bay Research and Innovation Center within CAMLS supports scientists, engineers, doctors, and industry partners working to develop new, better, and safer devices and procedures for patient care.
Hillsborough County has also become a hotspot for medical tourism with companies like Moffitt Cancer Center, Laser Spine Institute, and CAMLS drawing scientists, physicians, and patients here for cutting-edge treatment and research.
Supporting the growing life sciences industry in Tampa Bay are a number of trade associations and councils, including BioFlorida, the Tampa Bay Research Council, and the USF National Academy of Inventors.