Rowan making 10-year, $50M investment in med school

Rowan University’s board voted last week to invest $50 million over 10 years to the Cooper Medical School of Rowan University, furthering the city’s commitment to developing a stronger “eds and meds” economy.

The funding will be used to enhance medical and bioscience research at the university.

Cooper University Health Care’s board voted Wednesday to commit to “a collaborative effort to build a first-rate medical research program,” according to a statement.

“Medical research programs, as we envision at Cooper Medical School of Rowan University, have great potential to impact education, our health care system and the economy,” said Ali Houshmand, president of Rowan University. “We believe this investment and the collaboration with Cooper University Health Care physicians will build upon CMSRU’s strong reputation and strengthen Camden’s ‘eds and meds’ corridor as an important destination for medical and bioscience research, and is in keeping with our recent designation as a Carnegie research institution.”

According to Houshmand, the funding will be used, in addition to creating a program, to attract top researchers and provide seed money and cover startup costs for researchers.

“As the leading academic health system in South Jersey, Cooper knows how significant medical and bioscience research programs are to developing the next generation of breakthrough treatments and cures,” said Cooper Chairman George Norcross III. “Cooper’s board is in full support of Rowan’s investment and committed to creating a first-rate research program at CMSRU. Attracting top students and health care professionals benefits patients, it benefits our health care system and it provides additional economic opportunities in Camden.”