LIVINGSTON, N.J. (WCBS 880) — Saint Barnabas Medical Center will be renamed in honor of the Wall Street hedge fund billionaire who recently donated $100 million to the hospital.
The donation was the largest ever given to any hospital in New Jersey, according to a press release. It was gifted by Leon and Toby Cooperman, who have been residents of Short Hills since the 1970s.
“The Cooperman family has helped us to become the renowned institution that we are today,” said Barry H. Ostrowsky, president and CEO of RWJBarnabas Health. “Today’s generous gift from Leon and Toby Cooperman is transformational and ensures that our medical center will continue to develop as a state-of-the art medical campus and a leader in protecting and supporting the health of the community.”
The Cooperman family has a long hospital of donating to educational and medical institutions. They had previously donated more than 100 times to the medical center, “including a $25 million gift in 2014 that provided the catalyst for a vast expansion of the hospital.”
In 2017, the Cooperman Family Pavilion – a five-story medical building with 114 private rooms – was also erected in their honor.
To now celebrate their generous donation of $100 million, Saint Barnabas Medical Center on Thursday announced the hospital will be renamed the Cooperman Barnabas Medical Center (CBMC).
“Leon and his family recognize that there is absolutely nothing that is more important to a community than quality healthcare,” said CBMC board chair Bruce Schonbraun. “We know this historic gift and the naming of the Cooperman Barnabas Medical Center will be inspirational to others. This is a game-changer for us.”
The money gifted to the medical center is also the largest donation the Cooperman family has ever given to any institution since Leon and Toby took “The Giving Pledge” – an initiative started by Warren Buffett and Bill and Melinda Gates that encourages the world’s wealthiest individuals to donate a majority of their wealth to philanthropic causes – in 2010.
“I am at the point in my life where I want my gifts to have real impact, and I could think of no better way to do that than to make this investment in healthcare in the community that has given so much to our family,” said Leon Cooperman. “The pandemic has shown us that heroes are working in our hospitals every day, and I’m honored to help support their work.”