Setting A New Hospital Record For The Largest Donation Received in its 123-Year History
PASADENA, Calif., June 2, 2022 /PRNewswire/ -- Dr. Charles Huang, chairman of the Charles Huang Foundation, today committed a $7 million donation to San Francisco's Chinese Hospital, the largest donation to the hospital of its kind. The donation ceremony was officiated by former San Francisco Mayor, Mr. Willie Brown today at Chinese Hospital with Dr. Huang and Foundation board members, Chinese Hospital's Board of Trustees, and its senior management.
Caption: Historic Donation to Chinese Hospital Check Presentation by Charles Huang Foundation
Former Mayor of San Francisco Willie Brown; Dr. Charles Huang, Chairman of Charles Huang Foundation; Mr. Kitman Chan, Chairman of Chinese Hospital's Board of Trustees; Dr. Jian Zhang, CEO of Chinese Hospital
"The Chinese Hospital is the kind of institution I want to support the most. It has an excellent tradition of caring for the local community, especially those less privileged groups. Education and Healthcare have always been the top priorities of my Foundation. This is also why, after making significant donations to my two alma maters in the UK and China, I chose the Chinese Hospital as the recipient of my first charitable donation in the US," said Dr. Huang. "Throughout the pandemic, we have witnessed anti-Asian, particularly anti-Chinese sentiment in American society. I hope that my donation can also show the American society that Asian Americans, in particular Chinese Americans, do care about our communities and give back to our communities in order to make our communities better and stronger."
The donation will fund redevelopment of the hospital outpatient tower infrastructure and creation of innovative programs that meet the healthcare needs of the Community. The renovated building will be named as the "Charles Huang Foundation Outpatient Tower." and provide additional capacity and services, including new subacute care beds and surgical suites, laboratory and administrative improvements, and mental health programs and nutrition services.
Dr. Jian Zhang, CEO of Chinese Hospital, said, "We're grateful to Dr. Huang for this generous gift which will allow us to expand much-needed services for our local community." Mr. Kitman Chan, chairman of Chinese Hospital's Board of Trustees, added, "This remarkable gift will enable the expansion of outstanding healthcare services San Franciscans need."
Dr. Charles Huang is founder and chairman of Pasaca Capital Inc., a California-based multi-billion-dollar evergreen fund with a global portfolio of companies in medical devices, pharmaceuticals, TMT, industrials & automation, and entertainment. Prior to founding Pasaca Capital, Dr. Huang has achieved exceptional success as a visionary leader ahead of his time in investment banking and automotive sectors. He was recognized as having "the Midas touch" because of his unrivaled stock selection skills and impeccable stock market calls.
Through the foundation, Dr. Huang has made substantial donations to his alma mater, including a $70 million donation to the University of Strathclyde, UK, a $40 million donation to Wuhan University, China, and a Hospital in Arcadia California.
In 2022 AAPI Heritage Month, Dr. Huang was recognized as one of the distinguished AAPI leaders and received the honor of "Excellence in Business" by California AAPI Legislative Caucus. In 2021, Dr. Huang was named "Philanthropreneur of the Year" by the California State Assembly. Pasaca Capital was named "Business of the Year".
The Charles Huang Foundation is a nonprofit public benefit corporation with a mission to accelerate and encourage education, health-related research, and entrepreneurship on a global platform. The Foundation works in partnership with governments, foundations, corporations, and institutions to establish educational and business opportunities that maximize the potential of aspiring scholars, researchers, and entrepreneurs. www.charleshuangfoundation.org/
Chinese Hospital is a community-owned, not-for-profit organization based in San Francisco's Chinatown. It's mission is to deliver quality health care in a cost-effective way and is responsive to the community's ethnic and cultural uniqueness. It traces its roots over 100 years to 1899, when the Chinatown community opened the Tung Wah Dispensary to provide eastern and western medicines for Chinese immigrants who could not access mainstream health facilities. A brand new replacement hospital opened in 2016. www.ChineseHospital-SF.org.
SOURCE Pasaca Capital, Inc.
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