Billionaire businessman Tilman J. Fertitta and his family have pledged $50 million for the … [+]
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The University of Houston has received a $50 million pledge from billionaire businessman Tilman J. Fertitta and his family for its College of Medicine. In recognition of the donation, the medical school will now be named the Tilman J. Fertitta Family College of Medicine.
The University of Houston’s medical school was just established in 2019, making it the city’s first new medical school in 50 years. It was founded with the mission of improving health and health care in underserved urban and rural communities that often suffer healthcare disparities and poor health outcomes compared to other areas.
The university intends to use the gift to help address the state’s shortage of primary care physicians, hire scientist scholars focused on health care innovation, and support clinical and translational research that emphasizes population health, behavioral health, community engagement and the social determinants of health.
Texas faces a severe shortage of primary care physicians. According to the university, citing figures from the Texas Department of State Health Services, the state will have an estimated shortage of 3,375 full-time primary care physicians by 2030. And the problem is widespread – 228 of Texas’ 254 counties suffer a shortage of primary care physicians.
To help fill this need, the Fertitta Family College of Medicine intends for at least half of its graduates to choose to practice primary care, compared to only about 20% of medical students who do so nationwide.
In addition, the University of Houston is attempting to diversify its medical student population. Of the 60 students in the medical school’s first two classes, 67% come from underrepresented groups in medicine, and more than half come from a low socioeconomic background.
The university anticipates that when it reaches its full enrollment within the decade, it will have as many as 480 students.
“Our family has such a passion for this medical school and its pursuit of health equity so everyone, regardless of race, ethnicity, zip code or socioeconomic status, has the same opportunity to be as healthy as possible,” said Fertitta in the university’s announcement. “My hope is that the Tilman J. Fertitta Family College of Medicine will be a game-changer for the health and well-being of Texans by improving access to quality health care, advancing medical knowledge and improving patient care through health and health care research.”
The $50 million dollar gift will be structured as follows:
- $10 million will establish five new endowed chairs for faculty who are regarded as leaders in their fields, with a focus on health care innovation. The $10 million will be matched one-to-one as part of the university’s “$100 Million Challenge” for chairs and professorships, doubling the endowed principal to $20 million.
- $10 million will fund an endowed scholarship fund to support graduate research stipends and fellowships for medical students.
- $10 million will provide start-up funds for research activities including facilities, equipment, program costs and graduate research stipends/fellowships.
- $20 million will create the Fertitta Dean’s Endowed Fund to support research-enhancing activities.
Commenting on the gift, University of Houston President Renu Khator said, “Tilman Fertitta and his family have made a visionary investment, so it is only fitting this new, ambitious and forward-thinking medical school should bear the Fertitta name. It will have a remarkable and lasting impact on Houston and the world. Thanks to the Fertitta family’s amazing generosity, the financial security and longevity of the medical school is cemented for generations to come.”
Tilman Fertitta is the president and CEO of Fertitta Entertainment, which owns Landry’s restaurants, the Golden Nugget casinos and hotels, and the NBA’s Houston Rockets.
He has served on the University of Houston’s Board of Regents since 2009 and was elected chairman in 2014, a role he has held ever since. Fertitta has been a prior donor to the University as well as several other charitable organizations. In 2016, he donated $20 million, the largest individual donation ever to Houston’s athletics department, to redesign the basketball arena, which is now known as the Fertitta Center. Forbes has pegged his net worth at $5.4 billion.
