(PHOTO: With an annual salary of $421,561. OBI's CEO, John Armitage is laughing all the way to the bank)
(July 9, 2014) Donating blood is anything but a charitable act in the United States. Oftentimes, blood given for free by Americans gets turned into profitable deals by companies specializing in blood sales to hospitals.
These days, a pint of blood can go for $180 to $300, depending on demand.
One business, General Blood based in Minnesota, serves as a middleman between blood donation centers and medical centers and research laboratories.
Given that blood is such big business, it's not unusual for some of it to be spilled in the midst of legal battles. Indeed, General Blood is currently caught up in a lawsuit with the nonprofit Oklahoma Blood Institute (OBI), which sells donated blood.
OBI sued General Blood, claiming it is owed money, and General Blood counter-sued OBI for $14 million over alleged confidentiality issues.
The sale of people's donated blood for hundreds of dollars per pint explains how a nonprofit like OBI can make $86 million a year, according to The Oklahoman.