Oct 2, 2009 11:28 am US/Pacific
Billionaire Gives $100 Million To SoCal Hospital
SANTA MONICA (AP) ―
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Philanthropist and Abraxis BioScience CEO Patrick Soon-Shiong said his gift will help link Saint John's doctors and patients to hundreds of other hospitals as well as researchers at UCLA and USC so they can access medical discoveries quickly. (File)
CBS
A billionaire pharmaceutical developer has donated $100 million to a Santa Monica hospital, with more than half the funds going to research projects and facilities.
Patrick Soon-Shiong and his wife, Michele Chan, donated the money to St. John's Health Center, a 380-bed Catholic hospital.
St. John's Chief Executive Lou Lazatin said Thursday $55 million will create several research centers and fund future projects.
The donation includes $35 million already spent on renovating and expanding the hospital and $10 million to attract doctors and scientists.
The couple donated a separate $35 million to St. John's in 2007.
Soon-Shiong is the founder and chief executive of Los Angeles-based Abraxis BioScience, a biopharmaceutical company that makes drug treatments to combat cancer.
The philanthropist was a former UCLA surgeon who, last year, sold generic drug-maker APP Pharmaceuticals Inc. for $3.7 billion, the Los Angeles Times reported. He has since pledged $1 billion from the sale to improve healthcare and address healthcare disparities in places such as Chicago, Detroit and Los Angeles.
(© 2008 CBS Broadcasting Inc. All Rights Reserved. This material may not be published, broadcast, rewritten, or redistributed. Wire services contributed to this report.)
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