Nevada Health and Bioscience Asset Corporation

What Nevada Health and Bioscience Asset Corporation does

Nevada Health and Bioscience Asset Corporation (NHBC) is a Nevada nonprofit corporation founded in 2020 that develops healthcare research, education, and clinical infrastructure through a public-private partnership model. The organization identifies, finances, and constructs specialized medical facilities in Nevada's Las Vegas Medical District and transfers operational responsibility to anchor institutional tenants — academic institutions and healthcare providers — under long-term nominal or below-market arrangements. Its first project, the 135,000-square-foot, five-story Kirk Kerkorian Medical Education Building at 625 Shadow Lane, was completed in October 2022 ahead of schedule and under budget at approximately $125M, funded by more than $150M in private donations (Engelstad Foundation, Lincy Foundation, Estate of Kirk Kerkorian, Bank of America) and $25M in state funding, and is leased to UNLV's Kirk Kerkorian School of Medicine at $1 per year for a class capacity of 120 (expandable to 180).

NHBC's second project, the $44M NHBC Academic Laboratory announced in October 2025, is a 34,000-square-foot, two-story facility at the same 625 Shadow Lane address, funded by a $35M State of Nevada ARPA grant and $9M from the City of Las Vegas. The Laboratory will include a donor blood center, microbiology, virology, tuberculosis identification, stem cell processing, drug toxicology, and molecular medicine capabilities, plus Nevada's first SAMHSA-certified drug testing laboratory and Biosafety Level 3 containment for lethal infectious disease research; it will be operated by University Medical Center and is scheduled for completion in late 2026 after a topping-out milestone in February 2026.

The organization is structured as a lean development entity with 1–10 employees led by President & CEO James C. Waddoups, COO Kimberly Case-Nichols, and Senior Medical Advisor Dr. Barbara Atkinson. NHBC carries no commercial revenue model — its funding is exclusively grants and philanthropic donations — and its go-to-market is event-driven, anchored by project announcements, groundbreaking and topping-out ceremonies, and earned media coverage. The combination of donor-funded capital, nominal-cost institutional leases, and co-located assets within the Las Vegas Medical District positions NHBC as a healthcare infrastructure developer whose economic value is captured indirectly through regional economic impact (an estimated $1.2B annual local infusion after 15 years of medical school operation, per a Brookings Mountain West / Tripp Umbach study) rather than direct operating revenue.

Name

Nevada Health and Bioscience Asset Corporation

Legal name

Nevada Health and Bioscience Asset Corporation

Website

https://nevadahbc.org

Company type

Private

Founded year

2020

Operating status

Operating

Headcount range

1–10 employees

Short description

Nevada Health and Bioscience Asset Corporation is a Las Vegas nonprofit founded in 2020 that develops healthcare and medical education facilities through public-private partnerships, leasing completed assets such as the Kirk Kerkorian Medical Education Building to UNLV at nominal cost and operating the forthcoming NHBC Academic Laboratory with University Medical Center.

Ownership category

akta.pro rank

Product category

Healthcare Infrastructure Development

NAICS

Research and Development in the Physical, Engineering, and Life Sciences (54171), Voluntary Health Organizations (813212)

SIC

Services-Health Services (8000)

akta.pro primary industry

Academic Medical Centers & Teaching Hospitals (University-Affiliated) (EDAHAGAA)

akta.pro secondary industries

Hospitals, Clinics & Charitable Healthcare Providers (BPAGACAB), Academic Medical Centers (AMCs) & Teaching Hospitals (HLAFAAAA), Public Research Universities with Academic Medical Centers (AMCs) (EDAHAAAC)

Keywords

• Healthcare infrastructure development
• Medical education facilities
• Public-private partnerships
• Diagnostic laboratory services
• Nonprofit healthcare development

Headquarters

HQ city

Las Vegas

HQ country

United States

HQ region

North America

Offices1 record

Markets served

GTM type

B2B

Offering type

Services

Cost components

Operations, Infrastructure, Personnel, Marketing or Sales, Others

Revenue model

1. Grant Funding: NHBC operates as a nonprofit receiving government grants to develop healthcare infrastructure. Funding includes $35 million State of Nevada ARPA grant and $9 million City of Las Vegas general funds grant for the Academic Laboratory project.
2. Philanthropic Donations: The organization raises funds from private donors and foundations including the Engelstad Foundation, Lincy Foundation, Bank of America, and other donors. Over $150 million in private donations funded the Kirk Kerkorian Medical Education Building.

Go-to-market motion1 record

Distribution channels2 records

Marketing channels3 records

Core offering

Nevada Health and Bioscience Asset Corporation is a nonprofit development organization that plans, funds, and builds healthcare research, education, and clinical infrastructure assets in Nevada through a public-private partnership model. Its core deliverables are physical facilities including the Kirk Kerkorian Medical Education Building at UNLV (a 135,000 sq ft medical school facility) and the NHBC Academic Laboratory (a 34,000 sq ft diagnostic testing and research facility under construction), which are then leased to or operated by anchor institutional partners such as UNLV and University Medical Center.

Product overview

Nevada Health and Bioscience Asset Corporation (NHBC) is a nonprofit organization that develops healthcare research, education, clinical assets, and programming in Nevada through a public-private partnership model. The organization operates two primary facilities: the Kirk Kerkorian Medical Education Building (completed October 2022) which serves as the permanent home for UNLV's medical school and provides training spaces for medical students; and the NHBC Academic Laboratory (under construction, opening late 2026) which will provide diagnostic testing, blood services, and specialized laboratory research capabilities. Both facilities are located within the Las Vegas Medical District at 625 Shadow Lane.

Differentiator

Problem solved

Functional benefit

Products and services

• Kirk Kerkorian Medical Education Building A 135,000-square-foot, five-story medical education facility at UNLV that serves as the permanent home for the Kirk Kerkorian School of Medicine. Features include simulation sites, clinical skills and anatomy training facilities, physiology labs, administrative offices, and a learning resource center. Accommodates up to 120 medical students per class with capacity for future expansion to 180. Leased to UNLV for $1 per year under NHBC's public-private partnership model.
• NHBC Academic Laboratory A 34,000-square-foot, two-story academic laboratory facility in the Las Vegas Medical District housing a donor blood center on the first floor and specialized laboratory spaces on the second floor including microbiology, virology, tuberculosis identification, stem cell processing, drug toxicology, and molecular medicine, along with a biosafety level 3 (BSL-3) laboratory for studying lethal infectious diseases. Operated in partnership with University Medical Center (UMC) and supports UNLV's academic mission. Expected to open in late 2026.

Quantifiable outcome

• $5 million+ saved annually by keeping testing services in-state
• +3 more outcomes

Named customers2 records

Segments3 records

Ideal customer profiles2 records

Technology focussed No

API detail

Has API

No

API docs

API detail

Core technology

AI maturity

App detail

Partnerships

Eight partnerships are on record, tiered core.

• University Medical Center (UMC)coreStrategic or Co-development Partner · 22 October 2025UMC will operate the NHBC Academic Laboratory, providing 24/7 health laboratory services. The facility will deliver same-day diagnostic testing, house a donor blood center, and provide specialized laboratory spaces for microbiology, virology, toxicology, and molecular medicine.
• University of Nevada, Las Vegas (UNLV)coreStrategic or Co-development PartnerNHBC developed the Kirk Kerkorian Medical Education Building for UNLV's medical school. The Academic Laboratory will support UNLV's academic mission by providing hands-on training for medical students, residents, and fellows in key specialties including microbiology, virology, toxicology, and pathology.
• City of Las VegascoreStrategic or Co-development PartnerCity of Las Vegas provided $9 million in general funds grant for the Academic Laboratory project. The city has been instrumental in creating the Las Vegas Medical District where NHBC builds its assets.
• State of NevadacoreStrategic or Co-development PartnerState of Nevada provided $35 million American Rescue Plan Act (ARPA) grant for the Academic Laboratory. Previously contributed $25 million toward the Kirk Kerkorian Medical Education Building.
• Whiting Turner Contracting CompanycoreImplementation/ SI/ Consulting PartnerWhiting Turner serves as the general contractor for the NHBC Academic Laboratory project. Hosted the topping out ceremony celebrating placement of the final structural steel beam.
• Sletten ConstructioncoreImplementation/ SI/ Consulting PartnerSletten Construction serves as the owner's representative for the NHBC Academic Laboratory project, overseeing construction management.
• TSK ArchitectscoreTechnology or IntegrationDesigned the Kirk Kerkorian Medical Education Building. Received Design Honor Award from AIA Nevada for the project. Building reflects UNLV's forward-thinking curriculum with specialized training spaces.
• MJ Dean ConstructioncoreImplementation/ SI/ Consulting PartnerServed as general contractor for the Kirk Kerkorian Medical Education Building construction.

Scale indicators7 records

Recent moves8 records

Expansion highlights6 records

Direct peers

• Healthcare Realty Trust: Healthcare-focused REIT that owns and develops outpatient medical and clinical facilities; comparable to NHBC's model of developing and holding healthcare real estate for institutional tenants.
• Anchor Health Properties: Healthcare-focused real estate developer that builds medical office, ambulatory, and academic medical facilities for nonprofit health systems, mirroring NHBC's healthcare-asset development and leasing model.
• BioMed Realty (Beacon Capital Partners): Specializes in life science and biomedical research real estate development, including laboratory and clinical research facilities for universities and research institutions — highly comparable to NHBC's Academic Laboratory build.
• PMB (Pacific Medical Buildings): Develops and finances healthcare facilities, particularly for nonprofit and academic medical systems, often via ground leases and long-term tenant partnerships akin to NHBC's $1/year lease with UNLV.
• Wexford Science & Technology (a Welltower company): Develops life science and academic medical research real estate in university-adjacent innovation districts under public-private partnership structures, directly comparable to NHBC's academic-laboratory and medical-education development model.

Broad incumbents

• Welltower: Large diversified healthcare REIT (and parent of Wexford) operating across seniors housing, outpatient medical, and research properties at national scale — a much broader incumbent in NHBC's niche.
• Banner Health: Large nonprofit health system with academic medical centers and significant capital project activity, providing a reference point for how scaled nonprofit medical organizations approach facility development and partnerships.
• Medical Properties Trust: Hospital-focused REIT that acquires and finances acute care and academic medical real estate from health systems; comparable in asset class though much larger and more commercial in orientation than NHBC.
• CommonSpirit Health: Major nonprofit Catholic health system operating academic medical centers and large-scale facility programs across the U.S., comparable as a nonprofit medical organization undertaking capital development.

Others

• Kirk Kerkorian School of Medicine at UNLV: NHBC's primary institutional partner and tenant (leases the Medical Education Building for $1/year); not a competitor but directly linked via the partnership and use case for both NHBC facilities.

Market position

Strengths4 records

Weaknesses4 records

Competitive moat5 records

Key risks5 records

Key highlights6 records

Customer concentration

• LinkedInlinkedin.com/company/nevada-health-and-bioscience-corporation

Compliance2 records

Revenue estimate

Valuation estimate

Number of profiles

Profiles3 records

Funding overview

Funding rounds

Investors

Funding detail is available on the Subscription and Enterprise plan.Contact sales →

M&A

Investments

M&A and investment is available on the Subscription and Enterprise plan.Contact sales →

Frequently asked questions about Nevada Health and Bioscience Asset Corporation