New Jersey Health Foundation Receives $1 Million Endowment From Wakefern Food Corp. to Honor Outgoing President

NEW BRUNSWICK, N.J., Nov. 9, 2011 /PRNewswire-USNewswire/ -- New Jersey Health Foundation and its affiliate, the Foundation of UMDNJ, have received a $1 million gift from Wakefern Food Corp. to establish The Dean Janeway Endowment to Advance Healthcare Excellence. 

Mr. Janeway, the president and chief operating officer of Wakefern, will retire in January 2012 after 45 years with the company, the past 16 as president.  He was recently elected chairman of the Boards of the Foundation of UMDNJ and New Jersey Health Foundation.

Mr. Janeway will be able to designate the annual proceeds of the endowment to support groundbreaking research, scholarships for future healthcare professionals or patient care and community service programs for the underserved; all programs offered through the University of Medicine and Dentistry of New Jersey.

"We are sincerely grateful that Wakefern has set up an endowment to honor Mr. Janeway in this way," said Dr. George F. Heinrich, vice chairman and CEO,  New Jersey Health Foundation. "This Fund will provide him with a meaningful opportunity to advance high quality healthcare programs that mean the most to him and can have a vital impact on the health of residents throughout our state."

Wakefern announced the creation of the endowment in a moving tribute to Mr. Janeway at its recent annual meeting.

"What makes Dean a natural leader is that he cares about people," said Joseph S. Colalillo, chairman and CEO of Wakefern. "This endowment is an outstanding way for us to honor not only his legacy at Wakefern but his passion for serving the community as well." 

Mr. Janeway has served on the Board of Directors for the National Co-op Bank, as well as the National Grocers Association, where he also served as chairman for two years. He was awarded the New Jersey Food Council's Lifetime Achievement Award in 2009. In 2011, the Food Marketing Institute (FMI), an industry trade association, recognized Mr. Janeway with its highest award – The Herbert Hoover Award— for his professional excellence in serving the food retail and wholesale industry. 

About New Jersey Health Foundation
New Jersey Health Foundation (www.njhealthfoundation.org), established in 2002 as a not-for-profit, public charity, is the parent company to the Foundation of UMDNJ (www.foundationofumdnj.org), which solicits private sector support for the University of Medicine and Dentistry of New Jersey and to Foundation Venture Capital Group, LLC, (www.foundationventure.com) which makes private equity investments in start-up technology companies founded by researchers at the University of Medicine & Dentistry of New Jersey.

About Wakefern Food Corp.
From a small, struggling cooperative with eight members – all owners of their own grocery stores – Wakefern Food Corp. has grown into the largest retailer-owned cooperative in the United States.  Founded in 1946, the cooperative is comprised of 47 members who today individually own and operate more than 230 supermarkets under the ShopRite banner in New Jersey, New York, Connecticut, Pennsylvania, Maryland and Delaware. In 1996, Wakefern introduced PriceRite stores, extending the company's reach into Rhode Island and Massachusetts.  Today, there are 45 PriceRite stores in five states.  As the merchandising and distribution arm of both ShopRite and PriceRite, Wakefern, together with its member companies, employ more than 50,000 people; making it one of the largest employers in New Jersey.  In addition, Wakefern also distributes products to other supermarkets throughout the northeastern United States and Bermuda.  Wakefern was recently named one of the Best Places to Work in NJ by NJBIZ Magazine. For more information, please visit www.Wakefern.com.

About UMDNJ
The University of Medicine and Dentistry of New Jersey (UMDNJ) is the nation's largest free-standing public health sciences university with more than 6,000 students attending the state's three medical schools, its only dental school, a graduate school of biomedical sciences, a school of health related professions, a school of nursing and its only school of public health on five campuses. UMDNJ operates The University Hospital, a Level I Trauma Center in Newark, and University Behavioral HealthCare, which provides a continuum of healthcare services with multiple locations throughout the state.

SOURCE New Jersey Health Foundation