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Just over six months after announcing plans to build a $20 million cardiac research institute in Palm Beach Gardens, the Foundation for the Advancement of Cardiac Therapies (Related) (FACT) has decided against building the facility.
The nonprofit said it wants to focus its efforts on its program to reduce childhood obesity.
"Terminating the integrative health institute project was a difficult decision for the board to reach," said Dr. Mehmet Oz, vice chair and professor of surgery at Columbia University and director of the cardiovascular institute and complementary medicine program at New York Presbyterian Hospital. "The board has received such an outpouring of support for our HealthCorps project and we realized we could not be effective with either project if we were stretched too thin."
A frequent guest on "The Oprah Winfrey Show," Oz gave a charismatic presentation announcing the project at the Business Development Board of Palm Beach County's luncheon on Jan. 25.
While joking around with the mayor of Palm Beach Gardens, Oz said his 44,000-square-foot facility would have 77 jobs in its first year with an average salary of $80,000.
At the time, he said he was close to locking in one of several 12-acre sites in the city.
When he disclosed the deal, Oz said FACT had $4.5 million in the bank and completing the project would depend on donations and partnerships.
"We were able to find the land to build the institute but needed to make a prudent business decision before we moved forward with a land purchase," Oz said to explain why the plans have not gone forward. "We are sorry that this project will not come to fruition."
FACT, which has an office in Jupiter, is to continue running educational programs in Palm Beach County as well as fund telemetry improvements for county rescue service vehicles.
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