After a period of tension between the University of Utah and the Huntsman Cancer Foundation, the University’s Board of Trustees approved a new memorandum of understanding today detailing their business relationship.
The MOU lays out a number of terms between the two institutions.
First, it clarifies how the profits from the Huntsman Cancer Hospital are split up between University of Utah Health and the cancer institute: the university keeps a quarter, while the remaining 75 percent goes to the Huntsman Cancer Hospital or institute.
Secondly, it addresses who is in charge of new faculty appointments: the cancer institute has to go through the usual university process though they’ll try to get approval from institute CEO Mary Beckerle.
And lastly, it details the financial obligations between the two: the university agrees to transfer $68 million to the institute to resolve past financial disagreements. The Huntsman Cancer Foundation will provide $120 million to the cancer institute over the next decade.
Previously, a series of agreements from different years left the relationship between the two unclear. The disagreements were part of the firing and subsequent rehiring of Huntsman Cancer Institute CEO Mary Beckerle, the resignation of University Health Care CEO Vivian Lee and the early retirement announcement of University president David Pershing.
Additionally, a five-member joint oversight committee will be created to help resolve any future disputes. It will include members of both institutions and a third party cancer specialist.
Memorandum of understanding between University of Utah and Huntsman Cancer Foundation by KUER News on Scribd