Baptist hospital to expand with $32 million grant

Photo: Cavan Images/Getty Images

Baptist Health Boca Raton Regional Hospital, part of Florida's Baptist Health, has received a $32 million grant from the Marcus Foundation that it calls the biggest in its history.

The grant was one of the final major grants personally directed by Bernie Marcus before his death in early November at 95. The funds are expected to go to the Marcus Neuroscience Institute to strengthen its integrated neurological and neurosurgical care.

The infusion of cash brings the overall philanthropic support from Marcus to nearly $75 million, according to Baptist.

WHAT'S THE IMPACT?

The monetary commitment comes on the heels of the Keeping the Promise campaign, which is nearing completion of its goal to raise $290 million to support the current $1.1 billion transformation project at Boca Raton Regional Hospital's campus.

Baptist said the grant is expected to accelerate the next phase of expansion within Marcus Neuroscience Institute – a $124 million initiative – which will focus on the development of subspecialty programs focusing on brain health, with programs for Alzheimer's and other dementias, Parkinson's and other neurodegenerative disorders and brain tumors.

Also included is a major investment in personnel with planned recruitment of new clinician-scientist physicians to drive innovation in brain and spinal care. Additionally, the Marcus' commitment will fund ten new Distinguished Physician Scholars, which will provide medical staff leaders with the resources to innovate and discover by enhancing research capabilities with clinician-driven translational research.

Baptist said the Marcus Neuroscience Institute has seen exponential growth over the last several years – from 360 surgeries in 2015 to nearly 1,300 surgeries expected in 2024, and from 2,506 patient encounters in the Institute's outpatient clinic in 2015 to nearly 49,000 encounters expected this year. This, the hospital said, is due to a combination of demand and the institute's reputation. 

THE LARGER TREND

Bernie Marcus, cofounder and former CEO and chairman of the Home Depot, was an early signer of the Giving Pledge, started in 2010 by Bill and Melinda Gates and Warren Buffett, in which billionaires commit to giving away at least half their fortunes during their lifetime.

Bernie Marcus and surviving wife Billi were recently awarded the Forbes 400 Lifetime Achievement Award for Philanthropy and were recipients of the Woodrow Wilson Award for Public Service, given to individuals who have served with distinction in public life. Bernie Marcus was named the inaugural recipient of Inc. 500's Bernard A. Goldhirsh Award, was inducted into the Junior Achievement U.S. Business Hall of Fame and has received the USO Patriot Award and the Sea Keeper Award for promoting the restoration and protection of the world's oceans.

Jeff Lagasse is editor of Healthcare Finance News.
Email: jlagasse@himss.org
Healthcare Finance News is a HIMSS Media publication.