Collaboration will be a key part of building Atrium Health's midtown innovation district, creating more opportunities for Charlotte's entrepreneurial ecosystem.
Atrium began talks with Wake Forest Baptist Health in 2018, followed by an announcement in early 2019 of the planned combination. The deal was solidified about a year and a half later.
As a result, Charlotte is on track for a four-year medical school, with the ability to house up to 400 medical students each year at full buildout.
That's just one part of the project.
"We took a step back, and we said, 'Well, we really only get one shot at this.' It's not really just about the medical school," said Collin Lane, enterprise senior vice president of facilities at Atrium.
Representatives, including Lane, from Charlotte-based Atrium participated in a panel today at Camp North End for the Charlotte Innovation Summit, part of Charlotte Innovation Week. The panel focused on Atrium's innovation district, The Pearl, and its potential opportunities.
The Pearl is being designed as a place to connect providers, researchers, students and entrepreneurs. Its flagship academic building will have future doctors, but it will also house students in health sciences, business and professional studies. IRCAD, a French surgical institute, signed on earlier this year to establish its U.S. headquarters in the district.
Lane said the district will support medical research on a range of topics. Wake Forest is known for its research on aging and regenerative medicine. Atrium has a stronger footprint with cancer, heart and vascular and pediatrics, he said.
"One of the big benefits of the organizations coming together is we're very complementary, and there wasn't a ton of overlap in what our specialty performance and opportunities were," Lane said. "What we see is greater research dollars flowing into these other specialties."
The combined organization wants to grow its funded research enterprise, bringing on 40 new investigators, said Dr. Angela Sharkey, senior associate dean of undergraduate medical education for Wake Forest University School of Medicine. Most of those will be embedded in Charlotte. Atrium and Wake Forest have access to more than $320 million in research funding each year, Lane said.
Hillary Crittendon, head of strategy and operations at The Pearl, envisions an open access area for the community. Ground-floor doors will be open, offering free coworking space and retail options. Another goal is to have the district connect with nearby neighborhoods, such as Cherry or Dilworth.
Todd Dunn, vice president of innovation at Atrium, had some advice for innovators looking to collaborate at the corporate level.
"Have a relentless understanding of the problem first. Don't try to call us and tell us what we already know about the problem," Dunn said. "The other thing that you need to really understand is your business model. We don't buy ideas. We can't. ... What a lot of companies haven't understood is, if we buy your solution, how do I know it will actually change outcomes for us?'"
Dunn said Atrium is creating a list of specific problems that have no current plans for being solved. That will better align its needs with what entrepreneurs have to offer.
