Thursday, Sept. 7, 2017 | 2:14 p.m.
The Roseman University College of Medicine received a sizable boost today, receiving the largest donation in the school’s history.
The Engelstad Family Foundation pledged $10 million to the school to kick off its “Breakthrough in Medicine” fundraising campaign. The goal of the initiative is to raise $66 million over the next six years toward the opening of the school in Summerlin.
The school will be the first private, nonprofit, doctor of medicine-granting medical school in the state and will work toward filling the need for doctors that Nevada has faced over the past several years.
“In addition to the institutional resources provided by Roseman University, this pledged gift is a significant step in our effort to raise the $66 million needed to establish a premier private, M.D.-granting medical school that will help Nevada communities overcome the chronic shortage of physicians and improve health care outcomes,” said Dr. Mark A. Penn, founding dean of the Roseman University College of Medicine.
“As a nonprofit, private medical school, built without the support of state funding, we are extremely grateful for the generosity and support of the Engelstad Family Foundation and the many business and community members.”
Penn said that Nevada would need to add 2,000 additional physicians to be at the national average of patient-to-physician ratio.
Kris Engelstad McGarry, daughter of the late Ralph Engelstad, former owner of the Imperial Palace, doubled down on Penn’s sentiments and said the family hopes to provide Las Vegas residents a quality education and keep doctors here to practice after they graduate.
“One of our focuses is education and contributing back to Las Vegas where our family really owes their livelihood,” McGarry said. “We are lucky enough to be here and lucky enough to make a good living, and we would like to enable others to stay here and do the same thing.”
Penn said that the $66 million goal would be broken down into two phases. Phase 1 is about the startup, with the school needing $35 million in the near term to met that goal. Of that, $30 million would go toward operations, and $5 million would go toward building out the facilities that Roseman needs.
Roseman University started the foundation for its College of Medicine in 2010 through the establishment of medical research programs.
In December 2013, the board of trustees of Roseman University unanimously approved a plan to develop an allopathic medical school in Southern Nevada. The College of Medicine is housed at Roseman University’s Summerlin campus.
More than 4,000 Roseman graduates are working in the medical industry across the country, including Nevada.
Dr. Renee Coffman, Roseman University president, said the Engelstad Family Foundation’s gift will help change the health care landscape in Nevada.
“Roseman University and the Engelstad Family Foundation have a shared vision for our state’s future — a Nevada where every resident has access to high-quality primary care and medical specialties,” Coffman said.
This version of the story is updated with comments from McGarry and additional information about the fundraising campaign.