Sanford Health

Argus Leader:

One of the largest ever donations to a medical center may enable Sioux Valley Hospitals and Health System to transform itself into a world-class research institution aimed at curing diseases and treating patients across the country.

T. Denny Sanford’s $400 million gift, formally announced today in Sioux Falls, provides what will now become Sanford Health the ammunition to reach targets in the stratosphere of health care and medical research, according to Sanford Health CEO Kelby Krabbenhoft.

“We would like to be in a league with them. We use them as markers,” he says of renowned institutions like the Mayo Clinic. Sanford’s donation will be delivered in installments of $50 million over eight years or in larger amounts if Sanford chooses to accelerate the transfer of funds.

It will be used as seed money to leverage as much as $1 billion by the time it is complete. Sanford, who owns First Premier Bank and Premier Bankcard Inc, has a long history of giving to South Dakota institutions.

He has already contributed $20 million to Sioux Valley to expand its projects with the University of South Dakota’s medical school and $16 million for Sanford Children’s Hospital, which will be built in Sioux Falls and operating within 18 months.

He has also given $70 million to the Homestake Mine project, and other gifts to the Children’s Home Society and the United Way. He calls his enormous gift “the most substantial thing that I’ve done philanthropically in my life. ... We have some very special projects that we would like to accomplish.’ ” The investment in Sanford Health will be focused in four areas.

This is great news for Sioux Falls and South Dakota in terms of both helping humanity and economic development.  Not to mention this could make Sioux Falls a major player nationwide as healthcare is concerned.  You can find Sanford Health's new website here.