By Tim Ryan
LifeNet Health, a global leader in regenerative medicine, continues its impressive growth with the acquisition of a cutting-edge research laboratory in Virginia Beach. This state-of-the-art facility will serve as a center of excellence for groundbreaking liver disease research and sports medicine applications, delivering better health outcomes for a growing number of patients worldwide.
Positioned near Town Center, the 5,700-square-foot facility has long been envisioned as a hub for life sciences research. The acquisition, in partnership with the City of Virginia Beach, adds to LifeNet Health’s expanding presence in the region and bolsters Virginia Beach’s profile as a life sciences hub. This milestone reinforces the company’s commitment to revolutionizing treatment options, particularly for those suffering from nonalcoholic steatohepatitis (NASH) and chronic knee and joint degeneration.
Addressing Critical Health Challenges
As a global healthcare innovator, LifeNet Health’s research in the newly acquired lab will focus on two pressing health challenges: nonalcoholic fatty liver disease (NAFLD) and sports medicine-related conditions. Nearly a quarter of adults worldwide are affected by NAFLD, which can progress to NASH, an inflammatory condition that currently lacks adequate treatment options. LifeNet Health aims to transform outcomes for the more than 100 million people suffering from NASH by developing advanced therapies that could halt or even reverse the disease.
In parallel, the company will advance its sports medicine portfolio, focusing on cellular therapies to treat knee conditions and joint degeneration—issues that become increasingly prevalent as the global population ages. The dual research focus is poised to deliver significant breakthroughs that will benefit both patients and healthcare providers, further establishing LifeNet Health’s leadership in the field of regenerative medicine.
Growing with Innovation
For more than four decades, LifeNet Health has consistently driven medical innovation, from expanding transplantation services to pioneering allograft implants and cellular therapies. This latest acquisition underscores the company’s dedication to advancing life sciences research that directly impacts patient outcomes.
“I am immensely proud of LifeNet Health’s progress and the transformative potential this new laboratory represents,” said Rony Thomas, President and CEO of LifeNet Health. “Our home is Hampton Roads, and we take great pride in delivering for not only patients but for our neighbors as well. This facility will be a cornerstone of our life sciences research programs, significantly enhancing our ability to address critical health challenges. By expanding our presence in Virginia Beach, we are not only advancing medical science but also contributing to the economic vitality of the region.”
Since 2023, LifeNet Health has experienced a 37% increase in its workforce, adding more than 500 employees across various locations, including 1,000 employees in Virginia Beach. This expansion further solidifies its commitment to the local economy while positioning the city as a leader in life sciences innovation.
Economic Impact and Revitalization
The acquisition of the Virginia Beach facility not only advances medical research but also drives economic growth. The addition of high-value scientific jobs reinforces Virginia Beach’s growing reputation as a life sciences hub, contributing to the revitalization of the city’s downtown area.
“We are thrilled that one of the world’s most recognizable companies in the medical science space is expanding to Virginia Beach,” said Amanda Jarratt, Deputy City Manager for the City of Virginia Beach. “This move will provide high-value jobs and further position the city as a life sciences hub. We congratulate the LifeNet Health team on their expansion and look forward to a successful partnership.”
Hope for Millions
With this expansion, LifeNet Health is paving the way for advancements in healthcare that hold promise for millions of patients suffering from chronic conditions. As the company widens its footprint in Virginia Beach, the community and patients alike stand to benefit from cutting-edge research and innovative therapies.
Hope, an essential part of LifeNet Health’s mission, is now firmly connected with action as the company embarks on this new chapter. As LifeNet Health continues to drive breakthroughs in medicine, Virginia Beach emerges as a vibrant center of life sciences research, contributing to both health innovation and regional economic prosperity.
