University of Texas MD Anderson Cancer Center
MD Anderson Services Corporation (formerly MD Anderson Cancer Center
Outreach Corporation) was established in 1989 as a not-for-profit corporation to enhance revenues of The University of Texas MD Anderson Cancer Center by establishing joint ventures in selected markets, providing additional referrals to the institution, contracting for delivery of inpatient and out-patient management, using existing UT MD Anderson Cancer Center reference laboratory services, and fostering additional philanthropy in distant areas.
University of Texas MD Anderson Cancer Center
The cancer center is named after Monroe Dunaway Anderson, a banker and cotton trader from Jackson, Tennessee. He was a member of a business partnership with his brother-in-law Will Clayton. Their company became the largest cotton company in the world. Anderson feared that in the event of one of the partners' deaths, the company would lose a large amount of money to estate tax and be forced to dissolve. To avoid this, Anderson created the MD Anderson Foundation with an initial sum of $300,000. In 1939 after Anderson's death, the foundation received $19 million.