Bill Gates Injects $20B Into His Foundation To Help Global Recovery

AP: Bill Gates Gives $20 Billion To Stem 'Significant Suffering'
Bill Gates, concerned about the “significant suffering” caused by global setbacks including the COVID-19 pandemic, announced Wednesday that he will donate $20 billion to his foundation so it can increase its annual spending. The donation, combined with longtime board member Berkshire Hathaway CEO Warren Buffett’s $3.1 billion gift last month, brings The Bill and Melinda Gates Foundation’s endowment to approximately $70 billion, making it one of the largest, if not the largest in the world, depending on daily stock valuations. (Gamboa, 7/13)

Gates Notes: Editorial: By 2026, The Gates Foundation Aims To Spend $9 Billion A Year
Several huge global setbacks over the past few years have left many people discouraged and wondering whether the world is destined to keep getting worse. The pandemic and the invasion of Ukraine are just two examples. These setbacks are causing significant suffering. But it is important to remember that they are happening in the context of two decades’ worth of historic progress. I believe it is possible to mitigate the damage and get back to the progress the world was making. In this post I will enumerate the progress and the setbacks, explain how the world can respond, and discuss how I and others can do our part. (Bill Gates, 7/13)

And St. Jude Children’s Research Hospital is expanding its research —

AP: St. Jude Expanding Investment For Research, Additional Jobs
St. Jude Children’s Research Hospital is increasing its investment by $1.4 billion for a strategic plan that includes programs advancing the study and treatment of pediatric cancer and other catastrophic diseases, the hospital said Wednesday. The additional funding is part of a six-year expansion plan that launched last year, and it will raise the six-year operating and capital budget to $12.9 billion, the Memphis, Tennessee-based hospital said in a news release. (Sainz, 7/13)

In other health care industry news —

Modern Healthcare: Molina To Buy Insurer My Choice Wisconsin
Molina Healthcare plans to acquire a Medicaid managed care organization in Wisconsin for about $150 million, the insurer said Wednesday. Under terms of the agreement, Long Beach, California-based Molina said it will purchase substantially all the assets of My Choice Wisconsin. (Kim Cohen, 7/13)

Modern Healthcare: NewYork-Presbyterian Invests $15M In AI Partnership
The program will bring together physicians and researchers from NewYork-Presbyterian, Cornell Tech and Cornell Ann S. Bowers College of Computing and Information Science. NewYork-Presbyterian is providing $15 million in funding for the program over three years. (Kim Cohen, 7/13)

WFSU: HCA And UCF Are Partnering To Provide Psychiatry And Dermatology Residencies In Tallahassee
The need for more mental health professionals, including psychiatrists, is growing. The Tallahassee area is now a final training site for additional psychiatrists thanks to a new hospital residency program. (Flanigan, 7/13)

Axios: Rural Hospitals Face Financial Instability Again
After weathering the pandemic with federal COVID aid, rural hospitals are facing a convergence of challenges that could leave many facilities deep in the red and at risk of closing as soon as the end of this year. (Dreher, 7/14)

KHN: Rural Hospital Rescue Program Is Met With Skepticism From Administrators 
In West Texas, the tiny hospital in Crosbyton has only two beds, and they’re not always occupied. “We rarely admit patients,” said Steve Beck, chief executive of the hospital, which is 40 miles east of Lubbock and serves a town of about 1,500 residents. The hospital has trouble keeping staff, and “we’re lacking in technology and expertise,” he said. And money. (Tribble and Leys, 7/14)