Billionaire Doctor Offers to Buy Hospital to Fight Coronavirus
April 3, 2020
Dr. Patrick Soon-Shiong, inventor of the cancer drug, Abraxane, a game-changer in the fight against pancreatic, lung and metastatic breast cancer, who sold his company Abraxis for $9.1 billion, made billions more when his new cancer drug-making company NantHealth went public in 2015, owns a percentage of the Los Angeles Lakers, and purchased the Los Angeles Times and San Diego Tribune for $500 million in 2018 is offering to pay $135 million to purchase St. Vincent Medical Center out of bankruptcy and turn it into a hospital for coronavirus patients.
The Chan Soon-Shiong Family Foundation (named after Dr. Shiong and his wife, Michele B. Chan) wants to turn St. Vincent Medical Center into an epicenter for medical professionals, attracting medical professionals around the country and the world to help combat coronavirus in Los Angeles. As of April 2, Los Angeles County has reported over 4,000 cases and 78 deaths. In an interview with the Los Angeles Times, Dr. Shiong believes we are at war with the coronavirus and every war needs some kind of command center to efficiently delegate the actions necessary to defeat the virus.
Dr. Patrick Soon-Shiong is a self-made man. He’s a pioneer in diabetes and cancer research, he has published over 100 scientific papers and has over 230 patents worldwide. During the early 1990s, he pursued stem cell and nanotechnology at NASA and harnessed stem cells to make insulin, according to NantkWest.
He grew up in South Africa during Apartheid. Since he was Chinese, he couldn’t vote, he couldn’t own property and he had to sit in the back of the bus. And since he was also Chinese and a doctor, he could work in nice white hospitals but with 50% less pay.