$100 Million Gift

Some huge mega gifts are still being made. The New York Times reported that Phillip Ragon made a 10-year $100 million pledge to Massachusetts General Hospital in Boston to create an institute for vacines to AIDS and other diseases.

Philip (Terry) Ragon noted: "By providing flexible funding and by connecting science and engineering at MIT and Harvard with the research and clinical resources of Massachuesetts General Hospital, we intend to empower many of the world’s best researchers to focus on what they view as the most promising research. We hope to engage them in a multidisciplinary collaborative effort for which there may be no greater benefit - curing the ill and saving lives.”

Ragon is founder, owner, and chief executive officer of InterSystems Corporation, a multinational hospital information software company based in Cambridge, Massachusetts. His wife, Susan (pictured above) is is vice president of Finance and Administration at InterSystems.

While administered by the Hospital, the Ragon Institute is a collaborative partnership of the Hospital, Harvard University, and the Massachusetts Institute of Technology (MIT) (Mr. Ragon is a 1971 alum).

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