The Cooperman Family Foundation's donation to Saint Barnabas Medical Center is the largest ever bestowed on a hospital in the state. The hospital will now be named Cooper Barnabas Medical Center.
"The Cooperman family has helped us to become the renowned institution that we are today," RWJBarnabas Health president and CEO Barry H. Ostrowsky said in a statement. "Today’s generous gift from Leon and Toby Cooperman is transformational and ensures that our medical center will continue to develop as a state-of-the art medical campus and a leader in protecting and supporting the health of the community."
The Coopermans raised their kids in Essex County where the medical center is located, and have previously donated to Barnabas more than 100 times. But CBMC board chair Bruce Schonbraun said their latest donation is "a game-changer" for the facility.
Mr. Cooperman spent 25 years building up Goldman Sachs' asset management division before founding hedge fund Omega Advisors in 1991. He is worth an estimated $2.5 billion, and vowed to give most of it away in signing The Giving Pledge initiative launched by Bill and Melinda Gates.
"I am at the point in my life where I want my gifts to have real impact, and I could think of no better way to do that than to make this investment in healthcare in the community that has given so much to our family," Leon Cooperman said. "The pandemic has shown us that heroes are working in our hospitals every day, and I’m honored to help support their work."