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August 05, 2014

Calif. Hospital to Add Research Hub with $120-Million Gift

Rady Children's Hospital in San Diego will receive $120-million from its namesake and chief benefactor to launch a center for research and innovation in genetics-based pediatric medicine, U-T San Diego and KPBS report.

The pledge from Ernest Rady will be supplemented by $40-million from the hospital's board of trustees. The planned Rady Pediatric Genomics and Systems Medicine Institute aims to tailor treatments for ill and injured children based on their genetic profile.

The former Children's Hospital of San Diego was renamed for Mr. Rady, the founder of financial-services firm American Assets, following a $60-million donation in 2006.