CLEVELAND, Ohio (WOIO) - Cleveland Clinic announced on Wednesday that the hospital system received is largest financial gift in the system’s 100-year history.
The Lord Foundation of Ohio gifted $261 million, according to the Cleveland Clinic.
The donation is possible because of the sale of the Lord Corporation, a privately-held manufacturing company. Lord Corporation’s sale has resulted in the distribution of more than $1 billion to four different institutions nationwide.
“Cleveland Clinic was founded on the ideal that innovation, research and teaching are integral components of patient care,” said Tom Mihaljevic, M.D., CEO and President of Cleveland Clinic. “Mr. Lord’s generous gifts allow us to continue tackling today’s most complex medical challenges, discovering the next breakthroughs and improving lives worldwide.”