Purdue University receives two multi-million dollar commitments for Purdue Institute for Healthcare Systems Innovation and engineering scholarships

Purdue University has recently received two multi-million dollar commitments to fund initiatives at the university, including the establishment of the Purdue Institute for Healthcare Systems Innovation and the establishment of the Sharon and Bill McFadden Scholarship Fund within the College of Engineering. The gifts come from the Ricks Family Foundation and university alumnus Bill McFadden and his wife.

According to an article on Purdue University’s website that discusses the establishment of the Purdue Institute for Healthcare Systems Innovation, university president Mung Chiang was quoted as saying, “This transformative gift from the Ricks Family Foundation expands our Daniels School opportunities, bolsters the Indianapolis location and advances the One Health initiative. We thank the Ricks Family Foundation; by investing across multiple strategic initiatives through the focus area of healthcare systems innovation, this generous and visionary gift will shape the university’s future in deeply impactful ways.”

The Purdue Institute for Healthcare Systems Innovation will be established via a $20 million gift from the Ricks Family Foundation and will be housed within the Mitch Daniels School of Business and will focus on innovation within healthcare economics and care delivery. It will analyze the pricing and reimbursement of pharmaceuticals, medical devices, and care pathways with the intention of researching solutions and improving patient outcomes.

James “Jim” Bullard, who serves as the Dr. Samuel R. Allen Dean of the Daniels School of Business, said, “The generosity and foresight of the Ricks Family Foundation will have an enduring impact on Purdue, the Daniels School and the nation. Considering the healthcare situation in the U.S. today, there is a clear need for rigorous, market-informed research that challenges conventional thinking and drives new solutions. This institute will allow Purdue to lead that work and make a lasting difference.”

Eric Barker, the vice president for health affairs and the Jeannie and Jim Chaney Dean of Pharmacy, said, “This foundational commitment strengthens the vital role our university plays in reimagining healthcare and improving patient outcomes. The institute will become a centerpiece of our One Health initiative as we intensify our efforts to tackle healthcare challenges head-on through research.”

The Ricks Family Foundation has also supported Purdue University in the past by assisting the Riley Children’s Foundation in establishing the Heartland Children’s Nutrition Collaborative in partnership with the Purdue University Department of Food Science and IU School of Medicine’s Department of Pediatrics.

In a separate article on Purdue University’s website that discusses the establishment of the Sharon and Bill McFadden Scholarship Fund, Arvind Raman, who serves as the the John A. Edwardson Dean of the College of Engineering, was quoted as saying, “We are truly honored by this generous gift from Bill and Sharon McFadden. It is our mission to build Purdue Engineering into the most consequential engineering college in the nation, and that starts with our students. This commitment will help make it possible for the most talented young minds to come to Purdue, thrive here and go on to make the world a better place.”

The endowment has been established via a $7 million commitment from university alumnus Bill McFadden and his wife Sharon. Bill McFadden graduated from Purdue University with a degree in industrial management in 1968. He began working at Grumman Aerospace, working on engineering projects, and after earning his MBA from Loyola University Chicago, he went into banking and worked with PricewaterhouseCoopers and S&P Global. Bill’s wife Sharon graduated from Loyola University law school and is a former partner at Andersen.

Bill said of his and Sharon’s decision to fund College of Engineering scholarships, “Sharon and I are proud to support Purdue, which has played such an important role in our lives. I knew early on that I wanted a technical degree — and with such a strong reputation in science and engineering, Purdue was my first and only choice. My degree opened a lot of doors early on, particularly at Grumman, and we believe the College of Engineering’s commitment to excellence defines the university even as it continues to grow. That’s why we chose to provide opportunities for the next generation of Boilermaker engineers.”

The Sharon and Bill McFadden Scholarship Fund will provide merit-based scholarships to students in the College of Engineering and will be used to encourage students to pursue careers in engineering.

For more information about Purdue University, visit the school’s website.