Valley Health gets $35M in donations to help fund hospital move

Valley Health’s plan to move its location from Ridgewood to Paramus, announced a year and a half ago, was given a $35 million boost by two gifts to the hospital’s foundation, the hospital announced Wednesday.

The two gifts were a $20 million anonymous donation and $15 million from the Bolger Foundation.

“These gifts represent a tremendous start to our philanthropic efforts to support the project and we are very grateful to these donors for their generosity,” said David Bohan, vice president and chief development officer of the Valley Hospital Foundation. “Building the new hospital is an important chapter in Valley’s history, as it will ensure that Valley can continue to meet the health care needs of the community, as it has since the 1950s. These generous donations, along with other gifts already received, represent a noteworthy start to our effort to seek community support for the new hospital. We look forward to working with donors at every level of giving to make the new Valley Hospital in Paramus a reality.”

The hospital anticipates breaking ground in 2020 and opening the doors of the new location by 2023. The site plan and designs have not yet been brought before the borough of Paramus, but the hospital plans to do so later this year, according to the announcement.

“With the help of these very generous gifts, Valley looks to build on its tradition of exceptional care and compassionate service by building a new, modern, state-of-the-art hospital,” said Audrey Meyers, CEO and president of the hospital. “By incorporating a range of outpatient services, as well as the new hospital, our Paramus campus will serve as a convenient health and wellness destination for the area.”

“We are pleased to be able to extend this gift in support of the new hospital,” said J.T. Bolger, treasurer of the Bolger Foundation. “David Bolger has one guiding philanthropic principle: He wants to ensure his generosity enhances the quality of life of all citizens. By making this gift, the Bolger Foundation continues our longstanding support of Valley Health System and the community.”