These earnings get passed down to the institute’s top executives, who make six-figure salaries. Leading the team is OBI’s CEO, John Armitage, whose annual salary is $421,561.
General Blood founder Ben Bowman claims that non-profits like OBI are profiting on blood. But Armitage denies that OBI is doing so.
“We are providing a drug,” Armitage explained to the newspaper. “On the business side of what we do, the comparison is to a pharmaceutical company. Technically, we like to say the blood is free, but they [hospitals] pay a service charge. It’s arranged, so it’s a service fee.”
“We have a charitable side,” he added, “which is trying to motivate people to do an amazing thing to help their fellow man or woman.”
Article Appeared @http://www.allgov.com/news/where-is-the-money-going/selling-donated-blood-is-big-business-in-us-140709?news=853635