The Sequoia Hospital Foundation in Redwood City, California, has announced a $2.5 million challenge gift from Business Wire founder Lorry Lokey.

Made through the Lorry I. Lokey Donor Advised Fund, the gift completes a $20 million capital campaign and will match additional gifts up to $2.5 million through January 31, 2014. The additional funds will be used to establish a building and technology fund at the foundation and help the hospital keep up with new technological advances.

Later this year, the hospital will open a new patient pavilion that includes a heart and vascular institute and its orthopedic, intensive care, and general surgical services. The campaign also has supported extensive renovations to the hospital's emergency department.

"With the funding of the building now complete, it is essential that we look toward providing the means to assure that the hospital remains at the forefront of future advances," said Lokey, who is also a Giving Pledge signatory. "I want to help make it possible to put the right tools in the hands of the right people. From personal experience as a patient at Sequoia, I know these are the right people. Sequoia Hospital's medical staff is second to none and with our help, there is no limit to the care they can provide to our community."