Zara founder pledges 320M to update Spanish healthcare

A charitable foundation run by the Spanish tycoon who founded the Zara clothing and accessories retailer has pledged 320 million euros to modernize cancer detection and radiation therapy equipment across Spain.

The Amanacio Ortega Foundation (FAO) has reached an agreement with health departments in the country's autonomous communities to fund new equipment acquisition. FAO has pledged the money to fund the acquisition of 290 pieces of equipment, guided by the needs expressed by each system's health professionals.

FAO noted that 200,000 new cases of cancer are diagnosed each year in Spain, of which 60% require radiation therapy at some point. The funding will include the purchase of digital breast tomosynthesis systems and advanced linear accelerators.

Amanacio Ortega founded Zara in 1975 and is considered to be the richest person in Europe, with a net worth of 67.7 billion euros, according to Forbes Magazine.