Given as part of the university's $3.5 billion Making History campaign, the largest-ever naming gift to a U.S. medical school will be used to increase its financial aid budget by at least 20 percent, recruit talented scientists and physicians; and support innovative research. The 93-year-old Perelman — a Penn School of Medicine trustee — told the New York Times that he hoped the gift would help the medical school expand to meet the growing demand for doctors.
The Perelmans are among Philadelphia's most prominent philanthropists, having previously donated $25 million to establish the Ruth and Raymond Perelman Center for Advanced Medicine, endowed a professorship in internal medicine at the university, and contributed to a number of other cultural and welfare projects in the region.
"Raymond and Ruth Perelman's historic investment in the future of Penn's esteemed School of Medicine is both transformational and inspiring," said University of Pennsylvania president Amy Gutmann. "It is transformational because this magnificent gift will enable us to increase financial aid for our exceptional students, recruit more of the most outstanding medical faculty and clinician educators, and invest more precious resources in innovative research programs that yield life-saving and life-enhancing breakthroughs in medicine and medical care."