U of Maryland Medical Center gets historic $25M donation

Baltimore-based University of Maryland Medical Center received a $25 million gift — the largest in its history — to fund a major expansion of its cancer center.

The donation, made by Baltimore businessman Leonard Stoler and his wife Roslyn, will be used to build a patient care tower at the University of Maryland Marlene and Stewart Greenebaum Comprehensive Cancer Center.

The new $175 million building will be named after the Stolers. It will house inpatient and outpatient cancer care services and is set to open in 2023, pending regulatory approval. Maryland Republican Gov. Larry Hogan will provide $125 million in state funding for the expansion. Mr. Hogan received treatment for non-Hodgkin lymphoma at UMMC's cancer center in 2015.

The Stolers cite their long relationship with UMMC, as well as their granddaughter's successful cancer treatment 26 years ago at UMMC, as key reasons for the philanthropy. The family also gave UMMC another gift to help build the cancer center's outpatient pavilion 15 years ago.

More articles on healthcare finance:
Louisiana hospital files for bankruptcy, blames ex-administrator for financial crisis   
Private equity pushes into healthcare: 8 latest deals   
HCA to close Sister Emmanuel Hospital in Miami    

Copyright © 2024 Becker's Healthcare. All Rights Reserved. Privacy Policy. Cookie Policy. Linking and Reprinting Policy.

 

Featured Whitepapers

Featured Webinars

>