Rio Rancho's First Hospital Receives $10 Million Gift
News Release: May 3, 2011
Presbyterian Healthcare Services has received a $10 million gift from Jack and Donna Rust to help build Rio Rancho’s first full-service hospital opening October 24, 2011. In recognition of the Rust’s gift, Rio Rancho’s new medical center will be named the Presbyterian Rust Medical Center.
“This gift speaks volumes about the Rusts’ commitment to New Mexico, and to their connection to Presbyterian,” said Jim Hinton, president and CEO of Presbyterian Healthcare Services. “Jack and Donna Rust understand the essential need to provide hospital services to our communities west of the river, and we are very humbled by their generosity and leadership to help us accomplish our purpose of improving the health of the communities we serve.”
The gift was made to the communities of Rio Rancho and Sandoval County, as well as Albuquerque, through a campaign for the future medical center, a $25 million fundraising effort now being conducted by the Presbyterian Healthcare Foundation (PHF). The campaign is being co-chaired by Julia Bowdich, a past PHF board chair, and Jim Haynes, current PHF board chair. According to Bowdich and Haynes, the campaign has raised more than $15.4 million, which includes the $10 million gift from the Rusts and $5.4 million in gifts and pledges from the Presbyterian family, encompassing community board members, employees, physicians and volunteers. The remaining $9.6 million will be sought from other businesses, families and charitable foundations over the next 12 months.
The cost of building and equipping the future hospital is $165 million. Presbyterian invested $140 million through long-term debt, capital reserves, and projected operating surpluses. The remaining $25 million needed to complete the medical center must be raised from the community through the Foundation’s fundraising effort. This is the Presbyterian’s largest investment in its 102-year history.
“Donna and I are pleased to provide this gift,” said Mr. Rust. “We are proud to give back to the community through Presbyterian and believe that investing in this medical center represents a commitment to improving health care for all New Mexicans.”
When completed in the fall of this year, the new Presbyterian Rust Medical Center in Rio Rancho will include a five-story patient tower and will provide inpatient services such as an intensive care unit, full birthing services, neonatal intensive care, surgery, general medicine, orthopedics and sports medicine. Outpatient services will include emergency care, full imaging services, diagnostic and interventional cardiology, radiology procedures and surgery.