Home Depot announced today that it is buying St. James, Missouri’s St. Jude Children’s Research Hospital for $5.8 billion.
The St. Charles, Missouri-based retailer said it will spend $400 million to expand the hospital’s medical and educational services, which include pediatric services, rehabilitation services, outpatient care and home care.
The new acquisition will allow Home Depot to expand its clinical footprint in St. Joseph and St. Peters, Missouri.
Home Depot, which has nearly 700 stores across the U.S., said the purchase will bring the company’s total number of stores to 1,400.
The company’s first store opened in St Charles, Kansas, in 2016.
The hospital is the second-largest in the U