In June of 2013, Lorry I. Lokey, the founder of Business Wire and a passionate benefactor of the health sciences, agreed to donate $2.5 million to complete Sequoia Hospital’s $20 million New Sequoia Hospital Campaign.
This “capstone” gift from the Lorry I. Lokey Donor Advised Fund came in the form of a challenge investment to support advances in medical technology within Sequoia’s new hospital campus. Mr. Lokey’s support was to match, dollar-for-dollar, contributions from the community up to $2.5 million through January 31, 2014.
"With the funding of the building now complete, it is essential that we look towards providing the means to assure that the hospital remains at the forefront of future advances," said Lokey. "I want to help make it possible to put the right tools in the hands of the right people. From personal experience as a patient at Sequoia, I know these are the right people. Sequoia Hospital’s medical staff is second to none and with our help, there is no limit to the care they can provide to our community."
Mr. Lokey's contribution to the Sequoia Hospital Foundation—its largest single gift to date—completed the philanthropic campaign in support of Sequoia Hospital’s new state-of-the-art, 104-bed, full service medical facility in the heart of Redwood City.
His challenge to the community established a “building and technology” fund at the Sequoia Hospital Foundation with contributions supporting advances in medical technology at the hospital. As future advances develop, this growing fund will serve to provide the funding necessary to help bring this technology to Sequoia Hospital. Funding priorities will be strategically evaluated on an ongoing basis by hospital and physician leadership and the Foundation’s Board of Directors.
"Lorry’s key investment in Sequoia now, as we open our new facilities, enables us to bridge medicine as we know it today with the promises of tomorrow," said JoAnn Kemist, President of the Sequoia Hospital Foundation (now retired). “An institutional commitment to remaining on the cusp of pioneering medicine means not only leading technology but also the ability to attract and retain the finest medical talent in the nation.”
On February 3, 2014 the Sequoia Hospital Foundation announced that it had successfully met Mr. Lokey’s $2.5 million matching challenge “investment,” resulting in an impressive $5 million raised for patient care and programs at Sequoia Hospital. Close to 1,200 generous community donors stepped forward to help the Foundation reach its goal ahead of the January 31, 2014 deadline.