Dedication of W. P. Carey Emergency Unit

May 9, 2013


NewYork-Presbyterian Hospital celebrated the dedication of the W. P. Carey Emergency Unit at a ceremony held on Thursday, May 2, 2013. Made possible by a $5 million gift from the W. P. Carey Foundation, the facility is a critical component of the hospital's emergency services.

The W. P. Carey Emergency Unit opened in 2009 as an expansion of the Lisa Perry Emergency Center at NewYork-Presbyterian/Weill Cornell Medical Center. This 5,200-square-foot state-of-the-art emergency department unit was the first in New York City to address the particular needs of the elderly through such features as specialized lighting to reduce delirium, larger rooms to accommodate family members, specialized floor patterns to minimize falls and a centralized nursing station that provides 360-degree visibility for better patient monitoring. The facility's 15 private treatment rooms can meet the special needs of patients who require isolation, such as those with airborne infections and those who are immunocompromised. The unit can function as a freestanding, self-contained stand-alone mini emergency department. The W. P. Carey Unit is an integral part of NewYork-Presbyterian's Lisa Perry Emergency Center, which had close to 216,000 patient visits in 2012 alone.

"During Superstorm Sandy and its aftermath, the W. P. Carey Emergency Unit was an essential resource for New Yorkers and gave us the ability to provide emergency medical care for an influx of patients," said Dr. Steven J. Corwin, CEO of NewYork-Presbyterian Hospital. "We are extremely grateful to Bill Carey and the W. P. Carey Foundation for their generosity in funding this state-of-the-art, patient-centered facility."

Dr. Corwin was joined at the ceremony by Dr. Herbert Pardes, executive vice chair of the board of trustees and the hospital's former president and CEO, as well as trustees of the W. P. Carey Foundation and officers of W. P. Carey Inc. W. P. Carey Foundation Chairman Francis J. Carey noted, "The W. P. Carey Foundation is honored to partner with NewYork-Presbyterian Hospital to help provide state-of-the-art emergency services. Having marked the first anniversary of my brother Bill Carey's passing as well as the 40th anniversary of the company he founded, W. P. Carey Inc., the dedication of the W. P. Carey Emergency Unit at NewYork-Presbyterian Hospital is particularly meaningful at this time. Bill's motto and a belief that he shared with family, friends and colleagues was 'Doing Good While Doing Well.' To Bill, that meant that when his firm was financing properties for companies, it was also helping the communities those companies serve. Through the W. P. Carey Foundation, which he founded and chaired, it meant supporting educational institutions with the larger goal of improving America's competitiveness in the world."

"Bill, who moved to New York in 1959 and established W. P. Carey in the city in 1973, had compassion and generosity that extended to the concerns and needs of New Yorkers. The funding of the W. P. Carey Emergency Unit is emblematic of this philosophy, and Bill would be delighted to have his colleagues at the company and trustees of his foundation see the name in the NewYork-Presbyterian Emergency Department and celebrate the dedication of the W. P. Carey Emergency Unit in the same year as his firm celebrates its 40th anniversary."

Trevor Bond, a trustee of the W. P. Carey Foundation and president and CEO of W. P. Carey Inc., added, "'Doing Good While Doing Well' was one of Bill's favorite mottos and has been one of W. P. Carey's core principles during our now 40-year history. Many of our employees have incorporated this philosophy into their lives on an individual basis, and we recently announced Carey Forward, a new corporate program that will allow employees to take time out of the office to volunteer. In the same spirit in which the foundation's gift to NewYork-Presbyterian gives back to the community where we live and work, we see Carey Forward as another avenue through which our employees and the company can accomplish a similar goal."

NewYork-Presbyterian Hospital

NewYork-Presbyterian Hospital, based in New York City, is the nation's largest not-for-profit, non-sectarian hospital, with 2,409 beds. The Hospital has nearly 2 million inpatient and outpatient visits in a year, including 12,797 deliveries and 195,294 visits to its emergency departments. NewYork-Presbyterian's 6,144 affiliated physicians and 19,376 staff provide state-of-the-art inpatient, ambulatory and preventive care in all areas of medicine at five major centers: NewYork-Presbyterian Hospital/Weill Cornell Medical Center, NewYork-Presbyterian Hospital/Columbia University Medical Center, NewYork-Presbyterian/Morgan Stanley Children's Hospital, NewYork-Presbyterian/The Allen Hospital and NewYork-Presbyterian Hospital/Westchester Division. One of the most comprehensive health care institutions in the world, the Hospital is committed to excellence in patient care, research, education and community service. NewYork-Presbyterian is the #1 hospital in the New York metropolitan area and is consistently ranked among the best academic medical institutions in the nation, according to U.S.News & World Report. The Hospital has academic affiliations with two of the nation's leading medical colleges: Weill Cornell Medical College and Columbia University College of Physicians and Surgeons.

W. P. Carey Foundation

The W. P. Carey Foundation is a private U.S. foundation, founded in 1990 by Wm. Polk Carey (1930-2012). This organization is the embodiment of his philosophy, Doing Good While Doing Well, and has carried out a tradition of focused philanthropy. Inspired by the Carey family's legacy of educational leadership and generosity, The W. P. Carey Foundation's primary mission is to support educational institutions with the larger goal of improving America's competitiveness in the world. The Foundation prioritizes programmatic support for the study of business and economics, as well as for admissions procedures and college and career guidance in its contributions to schools, universities and other initiatives. Support is also given to educational and medical institutions in the New York City area, where W. P. Carey Inc. and the W. P. Carey Foundation are headquartered.

Two highly regarded business schools, The W. P. Carey School of Business at Arizona State University and the Carey Business School at Johns Hopkins University, carry the Carey name. Most recently, in 2011, the Foundation endowed the 200-year old School of Law at the University of Maryland, which is now named the Francis King Carey School of Law.

W. P. Carey Inc.

Celebrating its 40th anniversary, W. P. Carey Inc. is a publicly traded REIT (NYSE: WPC) that provides long-term sale-leaseback and build-to-suit financing for companies worldwide and owns and manages an investment portfolio totaling approximately $14.1 billion. The largest owner/manager of net lease assets, W. P. Carey's corporate finance-focused credit and real estate underwriting process is a constant that has been successfully leveraged across a wide variety of industries and property types. Our portfolio of long-term leases with creditworthy tenants has an established history of generating stable cash flows that have enabled us to deliver consistent and rising dividend income to investors for nearly four decades.

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