Newport Beach retired businessman Bill Holmes has donated $27 million to help pay for construction of Children’s Hospital of Orange County’s new tower, the hospital announced Monday.
The 425,000-square-foot addition to the hospital will be named for Holmes, who owned the manufacturing company, L.A. Spas, until he sold it and retired nine years ago.
When completed in June, the tower will triple the size of the hospital in Orange at a total cost of $558 million, according to the hospital announcement. In addition to Holmes’ contribution, the addition is financed through income from hospital operations, new debt, public funding and philanthropy.
“This is my legacy gift to CHOC Children’s and to the children and families in the community,” said Holmes in the news release. “The new tower expands on what CHOC can do for the children in our community. Orange County residents should take tremendous pride in having a world-class pediatric facility here.”
CHOC’s announcement stated it is also working to create an endowment to support recruiting top pediatric experts “who can drive research and clinical breakthroughs” and is increasing its academic and research ties to UC Irvine’s School of Medicine to advance treatments and cures for children.
Please contact Tracy Wood directly at firstname.lastname@example.org and follow her on Twitter: twitter.com/tracyVOC.
Since you've made it this far,
You are obviously connected to your community and value good journalism. As an independent and local nonprofit, our news is accessible to all, regardless of what they can afford. Our newsroom centers on Orange County’s civic and cultural life, not ad-driven clickbait. Our reporters hold powerful interests accountable to protect your quality of life. But it’s not free to produce. It depends on donors like you.
Join the conversation: In lieu of comments, we encourage readers to engage with us across a variety of mediums. Join our Facebook discussion. Message us via our website or staff page. Send us a secure tip. Share your thoughts in a community opinion piece.