Dakotas-based health system buys minority stake, looks to tap into groundbreaking type 1 diabetes research, stem cell therapies.
A German subsidiary of Sanford Health has acquired a minority position in ISAR Klinik II AG, which includes Isar Klinikum, a hospital in Munich.
It’s the first investment in an international hospital by Sioux Falls, SD-based Sanford Health. Financial terms were not disclosed.
Kelby Krabbenhoft, president and CEO of Sanford Health, will serve on ISAR Klinik II AG’s board of directors.
“This is another significant step in our goal to advance health care around the world,” Krabbenhoft said in a media release. “ISAR’s ground-breaking procedures and medical technology are well-known, and we are eager to strengthen our relationship with the hospital and its leaders to bring that knowledge and care to our patients.”
The founder of ISAR Klinikum, Eckhard Alt, MD, oversees The Sanford Project, an initiative of Sanford Research that is searching for a type 1 diabetes cure.
“Advancements in medicine and patient care come when knowledge is shared,” Alt said. “As we look to the future and our stronger relationship with Sanford Health, we are excited to further unite our work and spread it to more parts of the world.”
Since 2015, Sanford Health has arranged for U.S. patients to travel to ISAR Klinikum to gain access to stem cell therapies allowed in Germany. Sanford has also sent 11 physicians to the hospital to better understand the application and impact of these therapies. The physicians’ experience has contributed to Sanford Health’s FDA-approved rotator cuff clinical trial in the United States.
Sanford Health’s operations include 44 hospitals and nearly 300 clinics in nine states and four countries.
John Commins is the news editor for HealthLeaders.