California hospital foundation receives $50M gift to support expansion

Providence Tarzana Foundation received a $50 million donation to support the expansion and renovation of Providence Cedars-Sinai Tarzana Medical Center in Los Angeles. 

Advertisement

The gift, from Donald and Andrea Friese, is the largest ever given to a Providence hospital in California. 

To recognize the gift, the medical center will name a new five-story patient tower the Friese Family Patient Tower.

“This is a truly historic day in Southern California,” said Erik Wexler, president of operations and strategy for Providence’s southern region. “Don’s and Andrea’s generous gift will be instrumental in bringing to life the vision of Providence Cedars-Sinai Tarzana Medical Center.”

Mr. Friese built C.R. Laurence Co., once a small glass products manufacturer and distributor, into a leading architectural hardware, equipment, tools and supplies company in the glass and glazing industry with annual revenue above $500 million. 

More articles on healthcare finance:
Medicaid panel releases 2021 report to Congress: 4 takeaways
Baylor Scott & White job cuts, outsourcing expected to save $600M
CMS boosts reimbursement for COVID-19 vaccine administration

Becker’s 3rd Annual Fall Chief Pharmacy Officer Summit is the top tier event that the people leading the future of pharmacy convene. This 3-day event is built specifically for Chief Pharmacy Officers and senior pharmacy leaders. The sessions examine the workforce, financial and clinical priorities shaping pharmacy today. Becker’s is where candid discussions flourish and new ideas thrive. Becker's 3rd Annual Fall Chief Pharmacy Officer Summit

Advertisement

Next Up in Financial Management

Advertisement

Comments are closed.