The William and Sue Gross Family Foundation has committed $40 million to the University of California, Irvine to establish a nursing school and assist in the construction of a new building to house it. The contribution, which will help the university address critical healthcare concerns, is the largest single gift ever to UCI.
Bill Gross co-founded Pacific Investment Management Co. (PIMCO), which grew to become a global investment management firm with $2 trillion in assets and 3, 000 employees in 12 countries. In September 2014, Gross joined Janus Capital Group to manage the Janus Global Unconstrained Bond Fund. A proud University of California alumnus (with an MBA from UCLA), he’s a renowned bond market expert and the author of two books on investing. His wife, Sue, is president of the William and Sue Gross Family Foundation, which has donated generously to healthcare and educational institutions throughout the world. The couple reside in Laguna Beach, not far from the UCI campus.
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The gift will enable the continued growth and excellence of UCI’s nursing program. In February 2015, NurseJournal.org named it as one of the top 10 programs in the western United States for quality, value and satisfaction, and its nurse practitioner faculty is consistently ranked within the country’s top 25.
“We’re proud to partner with UCI to help solve some of the most pressing healthcare needs of our generation, ” said Sue Gross, president of the Gross Family Foundation. “We expect our support for a nursing school to have a broad impact, as the demand for nurses and their teachers touches the heart of our healthcare system.”
According to recent reports from the U.S. Bureau of Labor Statistics, the nation will need more than 1 million new registered nurses by 2022. And an increase in nurse practitioners – registered nurses with advanced degrees – will be required to cover the looming shortage of primary care physicians.
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