Stanford University has launched a $1 billion fundraising campaign to build its new hospital and invest in medical research and teaching, and already half of that sum has been pledged by Silicon Valley companies and individuals, Stanford announced Monday.
Seven companies have committed $175 million for the project through the Stanford Hospital Corporate Partners initiative: Apple, eBay, Hewlett-Packard, Intel, Intuit, Oracle and NVIDIA, the lattermost which joined the founding group in April.
"Providing the most advanced health care possible to people -- locally, nationally and globally -- will be one of the great challenges of this century," university President John Hennessy said. The funding "will allow us to seek solutions to some of medicine's most daunting problems, and it will begin in our own community with the new Stanford Hospital."
The new hospital will replace aging facilities and bring the medical center up to state seismic standards. Architect Rafael Vinoly will design the facilities.
A former patient at Stanford Hospital, donor Morgridge said he began to realize the quality of the hospital's infrastructure, some of which dates from 1959, did not match the high quality of its care. He also envisioned the medical center's potential to lead the way in health care, with its research abilities and ties to Silicon Valley, he said.
"It is a combination of the unique capabilities of the valley, combined with the unique, broad capabilities of Stanford and a very strong medical research and teaching ... hospital," he said. "You need all of those if you're going to take on the global issue of health care, and I think this is an opportunity to do that."
Redlich, a 1972 Stanford graduate, said he and his family chose to support the hospital because he has come to see it as the ideal vehicle for his vision of a transformed health care system. Redlich is the former chair of Marine Terminals Corp. After he retired in 2007, he said, he began searching for an area of interest and settled on medicine.
"I've made my gift to the new Stanford Hospital because it is the first link in a very long chain of events that will lead to the improvement of medicine in this country. By putting this hospital in this location, in this university, we will be able to attract the best people, we'll be able to provide the best medical services, and we'll be able to adjust and adapt as medicine changes throughout time," Redlich said.
A major portion of the campaign -- $700 million -- will support the new hospital, but the remaining $300 million will fund a number of initiatives in the School of Medicine that hospital officials said would improve the delivery of care and advance research.
Among the major gifts for research is a new $10 million commitment from the Canary Foundation for research to improve early detection of cancer. The nonprofit, founded and chaired by Donald Listwin, has committed $28 million to date to the School of Medicine for new diagnostics and molecular imaging tools to locate and confirm the presence of tumors.
The campaign funds will also support graduate education programs in the biomedical sciences.
A parallel fundraising campaign, "Breaking New Ground," supports child-health programs of the School of Medicine and expansion of Lucile Packard Children's Hospital. The children's hospital eventually will double in size, adding 150 private patient rooms and new surgical, diagnostic and treatment areas. Campaign funds also will help train pediatric leaders and support research into cures for childhood diseases.
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