Torrance Memorial Medical Center has received a gift of $50 million – the largest donation in the history of the non-profit hospital – from Melanie and Richard Lundquist of Palos Verdes Estates.
The funds will be used to complete the new main patient tower, which is currently under construction and to be completed in the summer of 2014.
The $50 million gift was formally announced during Torrance Memorial's 30th Annual Holiday Festival Gala on Friday, December 6, 2013.
"This surprise gift is a game-changer for our hospital, one that will shape the future of the health we provide to the communities of the South Bay for generations to come," says Craig Leach, president and CEO of Torrance Memorial. "The Lundquists have generously supported our hospital for many years, but this gift is simply transformational for us and the community. We express our most sincere thanks to the Lundquists for their vision, support and generosity."
Torrance Memorial's main patient tower construction began in March 2011. Hospital staff and physicians are excited to see the building enter into its final stages of completion. The new 390,000 square-foot facility will include seven stories, 256 private rooms, and 18 surgical and interventional treatment rooms with state-of-the-art technology.
Torrance Memorial Medical Center broke ground on the new patient tower shortly after five hospitals in the area had closed.
The Lundquists, well-known philanthropists in Southern California, supported the new building from the beginning through their support of the "Growing for Our Community" fundraising campaign and serve as Capital Campaign Co-chairs. The family gives its support to various educational and health care initiatives in the area.
To view photos of the event please visit the Holiday Festival Facebook page.