Innovation district, The Pearl, launches in Charlotte as a blueprint for health care transformation

Business Journals

01-07-2025

The Pearl has officially opened its doors, marking the launch of a transformative new model in health care. Strategically uniting leading-edge medical training, academia and the most innovative names in health technology, The Pearl is designed to ignite collaboration, catalyze economic growth and drive innovative solutions for the city, region and beyond.
The Charlotte-based innovation district was created by a visionary public-private partnership led by Atrium Health, Wexford Science & Technology, LLC and Ventas.
Home to the Charlotte campus of Wake Forest University School of Medicine, the city's first four-year medical school, and the exclusive North American headquarters of IRCAD, a global network of advanced surgical training facilities, The Pearl will be a global destination for medical education and research.
'We built The Pearl to unlock the next era of clinical breakthroughs by uniting the brightest minds with the most advanced technologies in modern medicine,' said Eugene A. Woods, CEO of Advocate Health, of which Atrium Health is a part.
'It's where the world's top medical technology companies will work alongside surgeons, scientists, startups and students from Charlotte's first four-year medical school with the singular goal of finding new treatments and cures. Simply put, it will be a place where excellence lives — and excellence is learned.'
Over the next 15 years, the district is projected to generate more than 5,500 on-site jobs and more than 11,500 total jobs across the region, making The Pearl a catalyst for economic growth and opportunity.
'Building vibrant, amenity-rich communities that spark innovation begins by bringing together visionary people and transformative ideas,' said Thomas Osha, executive vice president of Wexford Science & Technology, the developer of The Pearl. 'Grounded in research, discovery, entrepreneurship, corporate partnership and deep community engagement, The Pearl is more than a district — it's the beginning of a bold new chapter in Charlotte's innovation story.'
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At the heart of The Pearl is the Charlotte campus of Wake Forest University School of Medicine. The school of medicine is the academic core of Advocate Health. With its first class of students starting in July, enrollment is expected to increase to 100 students per class over the next five years.
'Complete with a state-of-the-art simulation center, we're reimagining education at Wake Forest University School of Medicine for the next generation of medical professionals,' said Dr. Julie Freischlag, chief academic officer of Advocate Health and CEO of Atrium Health Wake Forest Baptist. 'By integrating traditional learning with real-world experience and community engagement, The Pearl fosters an environment where learning extends far beyond the classroom.'
Appealing to different learning styles, the school of medicine's Charlotte campus curriculum takes a unique, problem-based approach to learning, known as integrated biomedical sciences. The approach uses weekly clinical cases as springboards for students to learn foundational science and evaluate possible diagnoses, in addition to considering outside factors that may impact patient outcomes.
The Pearl also is home to IRCAD North America, which includes a surgical training curriculum with the latest techniques in cardiovascular, neuro and orthopedic surgeries, among others, all of which are unique to the network. With programs set to begin in September, it's expected to draw thousands of medical professionals from across the globe annually.
'I congratulate Advocate Health on the grand opening of The Pearl, which will help provide lifesaving care to the Charlotte community and foster cutting-edge medical innovation,' said North Carolina Gov. Josh Stein. 'With an estimated 5,500 onsite jobs, The Pearl will also be a boon to Charlotte's economy, strengthen North Carolina's health care network and position our state as a global destination for advancing complex medical care.'
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The commitment to educating the next generation of medical professionals also is evident through Atrium Health's partnership with Charlotte-Mecklenburg Schools. Together, with support from other partners, they've launched a science, technology, engineering and mathematics — or STEM — program designed to help middle school students get excited about careers in health care through free learning opportunities in an on-site lab.
'This innovation district is a powerful symbol of Charlotte's commitment to creating opportunities for everyone who calls this city home,' said Charlotte Mayor Vi Lyles. 'Not only does it honor our past by recognizing the rich history of Brooklyn, but it also looks to create space for inclusive growth.'
Located in the area historically known as Brooklyn — once a thriving African American community that was displaced in the 1960s and 1970s — the district is designed to reflect that legacy of resilience. With exhibits that pay homage to Brooklyn's enduring legacy, The Pearl aims to be a place where people from all walks of life will feel welcome and grow together.
'This is an important milestone for our entire community,' said Mark Jerrell, chair of the Mecklenburg Board of County Commissioners. 'This investment has the potential to foster greater opportunities for our residents, scholars and workforce in a way that honors this community's rich history, while also paving the way for a brighter future.'
The grand opening, which marked the completion of the first of three phases and includes more than 700,000 square feet of space, included walking tours, performances by local artists, a showcase of community partners and exhibits that reflect both the technological aspirations and the cultural heritage of the neighborhood.
National excitement: What others are saying
North Carolina Senate President Pro Tempore Sen. Phil Berger: 'The Pearl is more than an innovation district in Charlotte — it's a launchpad for North Carolina's future. By attracting world-class partners like Wake Forest University School of Medicine and IRCAD North America, as well as investing in cutting-edge innovation, The Pearl is driving economic growth, expanding opportunity and helping shape a healthier, more prosperous state. Its impact will stretch far beyond city limits — fueling talent, research and progress that benefits all North Carolinians.'
Dr. L. Ebony Boulware, dean of Wake Forest University School of Medicine, chief science officer and vice chief academic officer of Advocate Health: 'As our world is changing, especially with technology advances, we are challenged to rethink everything — how we teach, how students learn and how we prepare the next generation of physicians to lead. This challenge became an opportunity. And our new school of medicine campus at The Pearl is our answer. This is a place where medicine meets technology, where education meets entrepreneurship — and where talent becomes transformation.'
Rep. Destin Hall, North Carolina House of Representatives speaker: 'The Pearl stands as one of North Carolina's most significant investments in decades, delivering profound impacts both economically and in human health. By bringing Wake Forest's world-class medical school and its partnership with Atrium Health to Charlotte, they are addressing the state's critical health care needs while generating substantial economic growth and opportunity.'
John Kowal, president and head of the Americas at Siemens Healthineers: 'North Carolina is an increasingly important location for our business. The combination of IRCAD North America, Wake Forest University School of Medicine Charlotte and our U.S. Experience Center within The Pearl makes it the ideal site for innovation, collaboration and improved patient care.'