USC gets $25M endowment from former WellPoint CEO

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University of Southern California

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LOS ANGELES (AP) – The University of Southern California has received a $25 million endowment from the former chief of WellPoint health insurance.

USC announced the Leonard Schaeffer endowment on Tuesday, saying it is aimed at helping university researchers study how to reduce the rising cost of health care while improving patient care.

Schaeffer is also a USC professor.

The USC Leonard D. Schaeffer Center for Health Policy and Economics, run jointly by the Price School of Public Policy and the School of Pharmacy, was founded in 2009.

Schaeffer’s gift supports Campaign for the University of Southern California, a multiyear effort to secure $6 billion or more in private philanthropy to advance academic priorities.

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