The UF Health Science Center and Shands HealthCare announced a $580 million, five-year-plan on Thursday.
The plan will be primarily funded through philanthropy, grant income and UF support, according to a press release.
After a nine-month planning process by a 25-member cabinet of university and hospital leaders, the plan, known as "Forward Together," was formed to increase research potential for the university.
"[W]e want to become a national model for education in the health science profession," David S. Guzick, head of UF & Shands health system, wrote in the release.
Future plans include the creation of an electronic medical record system, the building of a Shands Hospital for Children and Women and the construction of primary care offices throughout the area.
"This is a significant investment," Guzick said. "But it will have significant impact."