Funding earmarked for further development of healthcare information opportunities
INDIANAPOLIS, Ind., January 23, 2008 — BioCrossroads today announced the award of a multi-year, $2.5 million grant from the Richard M. Fairbanks Foundation, Inc., to advance key initiatives in healthcare information, research and delivery.
Through this grant, the Fairbanks Foundation, an Indianapolis-based, independent private foundation focused on the health of the regional population and the vitality of the Indianapolis community, becomes a critical stakeholder in BioCrossroads’ mission to leverage Indiana’s healthcare and life sciences strengths. The grant will fund BioCrossroads in its work on a series of healthcare information-driven projects through 2010.
“Through our leading companies, universities and hospital systems, Central Indiana is a nationally renowned center for life sciences research, clinical information and healthcare delivery” said Leonard J. Betley, Fairbanks Foundation President. “The Fairbanks Foundation wants to support strategic efforts to build upon all three of these areas of considerable strength. Through this grant, we are confident that BioCrossroads will continue the important work of bringing our region’s healthcare information opportunities to life for the benefit of all.”
Both the Indiana Health Information Exchange (IHIE) and the Fairbanks Institute for Healthy Communities, Inc. began as BioCrossroads’ spin outs within the healthcare information/informatics field. Originally formed in 2004, and initially funded through grants from the Fairbanks Foundation and other leading philanthropic organizations, IHIE is a non-profit organization dedicated to providing clinical data and developing information-driven clinical quality standards to assist hospitals, physicians and other healthcare providers in achieving the highest standards of effective patient care. IHIE today is one of the nation’s most successful regional health information networks, enabling 33 hospitals in Indiana to communicate, on average, one million patient information messages each month to approximately 7,200 Indiana physicians.
Formed in 2006 through a $10 million grant from the Fairbanks Foundation and additional support from the Guidant Foundation, the Fairbanks Institute is one of the nation’s most comprehensive resources for studying better ways to prevent, diagnose and treat some of our most serious and widespread diseases. The Institute will assemble and maintain a unique database, linking biological samples with clinical and disease- specific information collected from the diverse Indianapolis population, for academic and commercial research.
“BioCrossroads is a catalyst in the development and expansion of these kinds of initiatives. IHIE and the Fairbanks Institute are two examples of medical information enterprises established through highly productive collaborations among Indiana academic institutions, corporate partners and philanthropic organizations,” said Dr. August Watanabe, Chairman of the Board of BioCrossroads. “This generous and targeted grant from the Fairbanks Foundation will promote signature initiatives for Indiana’s life sciences community and, in doing so, contribute to our community’s stronger economy and better health.”
About the Richard M. Fairbanks Foundation, Inc.
The Richard M. Fairbanks Foundation (www.rmfairbanksfoundation.org), located in Indianapolis, Indiana, was established in 1986 by the late Richard M. Fairbanks who was the founder and owner of Fairbanks Communications, Inc. The Foundation awards grants to nonprofits in greater Indianapolis for programs and projects related to health/healthcare, the vitality of Indianapolis, economic self sufficiency, and to organizations historically supported by the Fairbanks family.
BioCrossroads (www.biocrossroads.com) is Indiana’s initiative to grow the life sciences, a public-private collaboration that supports the region’s research and corporate strengths while encouraging new business development. BioCrossroads provides money and support to life sciences businesses, launches new life sciences enterprises, expands collaboration and partnerships among Indiana’s life science institutions, expands science education and markets Indiana’s life sciences industry.