CentraCare Begins $50 Million Fundraising Campaign for Medical School On Friday

(KNSI) – CentraCare is launching a capital campaign to support a future medical school in St. Cloud.

CEO Dr. Ken Holmen talked exclusively with KNSI News about the campaign. “The CentraCare Foundation has announced a $50 million philanthropic goal to support this initiative. And we’re really excited about the progress on that. So that goes to individuals and companies that want to help support this great work.”

The fundraising begins at noon on Friday with a kickoff event at the Foley Mansion in the Highbanks Neighborhood of St. Cloud. The school received $15 million in 2023 from the last legislative session and is asking for another $12.9 million in 2024. It will also use its operating revenue to help fund the estimated $100 million needed for the school.

Hospital officials say a third of physicians in outstate Minnesota will retire in the next five years, creating a potential crisis. Holmen described what is causing the dilemma. “I went to medical school at the University of Minnesota in 1974. That year, there were about 280 medical students in Minnesota. So 280, the population of Minnesota in 1974 was 3.1 million. Fast forward to 2023. Same number of medical students, and the population of Minnesota is 5.3 million.”

He says the state has not kept up as the older baby boomers retire. Holmen says the school will provide a pipeline to replace physicians by teaching them while they live in smaller communities served by CentraCare’s nine hospitals and 30 clinics.

Holmen stated healthcare is an essential part of the rural economy. CentraCare is the largest employer in St. Cloud with over 6,200 workers.

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