JUPITER, Fla. — For just $100, the University of Florida will acquire Scripps Research Florida's assets, including three buildings in Jupiter, 70 acres of vacant land, and other assets and liabilities upon the integration of the nonprofit's biomedical operation with the state university's academic health center's research operation.
On Nov. 16, Scripps and UF announced a definitive agreementto pair the private and public institutions.
The discussion about the merger started to gain public attention last summer.
Details of the transfer are spelled out in an Asset Transfer Agreement that WPTV obtained.
As part of the agreement, Scripps will transfer all assets associated with the 30-acre Scripps Florida campus in Jupiter, situated within Palm Beach County’s innovation corridor — property, buildings, equipment and adjacent 70-acre tract to the University of Florida.
The campus, one of the top National Institutes of Health-supported research centers in the state, includes more than 40 faculty-led laboratories supported by a 500-member team dedicated to understanding an array of illnesses and seeking to generate effective treatments.
According to UF Health, the closing date was pushed back to April in agreement with Scripps to ensure there is plenty of time to transition employees to UF and to maintain continuity of benefits.
In addition, this also allows more time to transfer grants and visas to UF, a process dependent on the federal government.