The philanthropic foundation established by Best Buy founder Richard Schulze is donating $25 million to Allina Health's 10-story expansion of Abbott Northwestern Hospital in Minneapolis. The gift is the largest in Allina's history, according to the Star Tribune.
The donation is a boost for Allina, which reported an operating loss of $122.7 million on $1.28 billion of revenue in the second quarter and recently delayed plans to replace its Cambridge, Minn., hospital, according to the report.
Last year, Allina's board voted to authorize $1.2 billion in spending through bonds and other funding to build the Abbott Northwestern patient tower, which broke ground Sept. 14.
Earlier this year, the Richard M. Schulze Family Foundation donated $20 million to Naples, Fla-based NCH Healthcare System. The funding will go towards the system's planned cardiac and stroke center, which will cost almost $200 million.