Mercy Health Dedicates Jewish Foundation’s $16M Gift to Expansion, Education
- Nov 25, 2014
The Jewish Foundation of Cincinnati has donated $16 million to Mercy Health as the centerpiece of the healthcare system’s largest-ever fundraising effort. Mercy Health will dedicate the funds to expanding the Jewish Hospital in Kenwood and to growing the Graduate Medical Education program based there.
Mercy Health purchased the Jewish Hospital, the oldest Jewish hospital in the United States, from the Jewish Foundation for $180 million in 2010. It also agreed to invest $75 million to improve the building and expand the graduate education program. Since then, Mercy Health has invested more than $50 million in capital and technology and $75 million in the current expansion.
In a statement, Mercy Health said it will work with other partners to raise an additional $6 million for the education program. The $22 million total will amount to the largest fundraising effort since the healthcare network was founded in 1986.
The hospital will dedicate $10 million toward expanding the emergency department, which will occupy the first floor of a five-story tower under construction at Galbraith and Kenwood roads. When completed in 2016, the new tower will feature all-private patient rooms, intensive care unit services, an orthopedic unit, neurology, a bone-marrow transplant unit, a blood cancer treatment center and the Liver and Pancreas Center.
“When the Jewish Foundation decided six years ago that the Jewish Hospital should be sold, it was very important that we find a partner that would ensure that the hospital maintained and strengthened its commitment to excellent health care — and Mercy Health has been that partner,” Michael R. Oestreicher, Chairman of the Jewish Foundation, said in a statement. “Mercy Health has not only honored The Jewish Hospital’s name, traditions and brand, its investment in the hospital’s growth and expansion will help it continue its historic role as a first-class teaching hospital.”
Photo credit: Mercy Health