SAC's Cohen donates $50 million to children’s medical center
April 14, 2010
The hospital will be renamed the Steven and Alexandra Cohen Children’s Medical Center of New York.
Steve Cohen of SAC Capital Advisors and his wife, Alexandra, have pledged $50 million to fund pediatric care at hospitals run by the North Shore-Long Island Jewish Health System.
| Steven and Alexandra Cohen (via North Shore-Long Island Jewish Health System)|
The contribution by the Cohen Foundation will enable North Shore-LIJ to continue the construction of a stalled 100,000-square-foot pavilion in front of the existing children’s hospital in New Hyde Park. The nearly $120 million project has been on hold since December 2008 because of the economic downturn. Construction is scheduled to begin this spring and finish in 2013. The hospital will be renamed the Steven and Alexandra Cohen Children’s Medical Center of New York.
The Cohen’s personal foundation previously donated $7 million to North Shore-LIJ for a new ambulatory pediatric chemotherapy unit and to establish an endowed professorship.
“Pediatric healthcare is an issue that is near and dear to our hearts and one that we have supported for many years,” said the Cohens in a statement. “The hospital is one of America’s top children’s hospitals and impacts the lives of countless children and families. We hope that our gift will enable the hospital to continue its important work.”