Lucile Salter Packard Children’s Hospital to Receive Up to $300M from Packard Foundation
The Lucile Salter Packard Children's Hospital at Stanford University today is expected to announce that it will receive as much as $300 million from the David and Lucile Packard Foundation, the Wall Street Journal reports. The foundation pledged $100 million and has agreed to match other donations up to $200 million. David and Lucile Packard funded the original $40 million construction of the hospital, which was completed in 1991 (Wall Street Journal, 11/16). The grants are part of the hospital's newly launched five-year campaign to "establish the ... hospital as one of the nation's elite pediatric care and research facilities" (Boudreau, San Jose Mercury News, 11/15). In addition to the recent Packard Foundation pledges, the hospital's fundraising organization has received $105 million in other donations to the campaign. Part of the campaign's funding will be used to establish six pediatric research centers specializing in the following areas: heart disease; brain activity; newborn care; transplantation and tissue engineering; cancer and blood disorders; and pulmonary disease and cystic fibrosis (Wall Street Journal, 11/16). However, none of the $500 million will be used to cover hospital operating expenses. The hospital, which operates independently of Stanford University, is California's second largest children's hospital in terms of revenue and treats 15,000 inpatient admissions and 100,000 outpatient visitors each year (San Jose Mercury News, 11/15).This is part of the California Healthline Daily Edition, a summary of health policy coverage from major news organizations. Sign up for an email subscription.