AUSTIN, Texas — The journey to building the University of Texas’ patient-centered academic and research medical center in Austin just got a lot smoother.
Austin residents Tench and Simone Coxe announced Monday that they will invest $100 million in the development of the medical center. It will integrate the work of UT’s Dell Medical School and UT MD Anderson cancer care to “deliver the highest quality of care in Central Texas.”
The new medical center will aim to reflect Austin’s rapid growth and increased health care needs, establishing the capital city as a well-known and trusted destination for health care.
Tench Coxe, a billionare and member of the board of the technology company, Nvidia, said he wanted to invest in a company he felt possessed strong leadership and was compelled to make the gift after meeting Claudia Lucchinetti, M.D., who is UT’s senior vice president for medical affairs and dean of the Dell Medical School.
“When you have a chance to back a great leader around a big vision at a school that has a world-class reputation already, it’s just a great opportunity,” Coxe said in a video posted by the university. “When we did meet Claudia, my sense was that we had a great leader.”
Almost a quarter of people in Central Texas have had to leave the area to seek serious medical care, so the new project will have a hospital development reserved for complex and serious conditions to add to Houston’s MD Anderson expansion to Austin.
The Coxes’ investment is unrestricted, meaning developers can direct the given resources to the areas where they are needed most. According to UT, priorities include recruiting world-class physicians and scientists, construction, technology investment and expanding programs to improve access to health care.
The gift is one of the largest in UT’s history, and university leaders said the goal is for the medical center to be in operation by 2030.
“We believe in the value of UT Medical Center both in terms of delivering services to Austin citizens and also changing the model for health care,” Simone said. “So, let’s get going.”