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Penn School of Medicine Receives $225 Million Record Gift

The University of Pennsylvania School of Medicine, the oldest medical school in the U.S., received $225 million from Raymond Perelman and his wife, Ruth, the largest single contribution in the institution’s 246-year history.

The gift will increase the School of Medicine’s financial aid budget by at least 20 percent for the 2012 class and will be used to recruit physicians and scientists, as well as to support research, according to a statement today from the Philadelphia institution. It will be renamed the Raymond and Ruth Perelman School of Medicine, the statement said.