St. Peter's in Troy announces $10 million donation
TROY, N.Y. - St. Peter's Health Partners in Troy has announced they are the recipients of a $10 million donation, the largest individual gift ever given to a health care institution in the history of Troy and Rensselaer County.
The $10 million donation, from a Capital Region resident, will benefit the system's $150 million Troy Master Facilities Plan.
St. Peter's says the large donation is from an individual donor who resides in the Troy area but who wishes to remain anonymous. The funds specifically benefit SPHP's Troy MFP, announced in November 2012. The plan features a $150 million, three-phased strategic development project that will include renovation and reconstruction on the campuses of Samaritan and St. Mary's hospitals based in Troy.
St. Peter's Health Partners President and CEO James Reed says the unexpected donation will help kick off many much-needed renovations.
"It's the springboard of our program. It was not only a financial vote in favor of our plans here, but also a very important business one in the sense that this individual looked closely at our plans before making this commitment and he felt that this was exactly what he wanted to see happen in Troy."
In appreciation of the gift, SPHP says they will name a five-story pavilion to be built on the Samaritan Hospital campus in honor of the donor. The pavilion will be dedicated at a future date and will feature a new, expanded emergency department, intensive care unit, progressive care unit, and future medical/surgical unit.
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