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Miriam and Newport Hospitals receive $7 million gift

1:20 PM Tue, Nov 24, 2009 | Permalink
Richard Salit

Mriam Hospital and Newport Hospital have received a nearly $7- million gift
from the Prince Charitable Trusts to support their emergency departments.

The gift will establish the Frederick Henry Prince Memorial Fund to benefit the two LIfespan network hospitals and create the Wood Prince Emergency Nursing Program to provide training for emergency room nurses

Close to $4 million of the gift will be dedicated to Miriam Hospital's emergency department, which treats 51,000 patients a year. Newport Hospital will receive nearly $3 million for its emergency operations, which cares for about 31,000 patients a year.

The gift was given by trustee William Wood Prince and his wife, Sharon Baron Wood Prince, of Newport and Chicago.

"Sharon and I feel privileged to be able to direct this gift to The Miriam and Newport hospitals," William Wood Prince said in a statement. "My grandfather, Frederick Prince, greatly appreciated quality health care and the need for caregivers to be supported. Both hospitals deliver outstanding care as evidenced by their national Magnet designations for nursing excellence.

"To support such a tradition of quality and to make a difference in the continuing education of nurses is an honor. We look forward to working with hospital leadership during the years to come and hope this gift will inspire others who also wish to support exceptional patient care."

The Prince Charitable Trusts were established in 1947 from the bequests of Frederick Henry Prince and his wife, Abbie Norman Prince. The family foundation has programs in Chicago, Washington, D.C., and Rhode Island. Prince was a Boston entrepreneur who owned a brokerage and investment banking firm. He later became a financier and an early investor in railroads and was the owner of the Union Stockyards in Chicago. He and his wife were residents of Newport.

"The generosity of the Wood Princes is extraordinary, particularly during these challenging economic times, and will benefit so many in our community," Arthur Sampson, Miriam Hospital's executive director, said in a statement. "This gift will enable us to continue providing the highest quality patient care to the tens of thousands of patients who rely on us in times of medical emergencies."