SOUTH BEND - The University of Notre Dame has received a $13 million donation from a longtime medical technology and venture capital executive and his wife. The school will name fourth-floor hospitality club in O'Neill Hall for Mark and Dana Foley as a result of the gift.

Mark Foley is the former chairman, president and chief executive officer of ZELTIQ Aesthetics, a company that developed the CoolSculpting fat-reduction process and was sold last year for $2.5 billion to Ireland-based Allergan plc (NYSE: AGN). He also previously served as managing director of California-based RWI Ventures. Foley graduated from Notre Dame, as did two generations of family members before him.

Dana Foley was co-founder and national director for college student-run crime data, safety and residential ratings company Safe Campuses Now.

"We can't think of a better place to direct our philanthropy. As a family that enjoys a four-generation history with Notre Dame, we greatly value and appreciate the University’s commitment to excellence, not just as an academic institution, but as a force for good. By empowering the University to direct our gift to its most pressing needs, we hope to facilitate Notre Dame’s efforts to fulfill its mission," Mark said.

O'Neill Hall was built on the outside of Notre Dame Stadium as part of the massive Campus Crossroads fundraising and campus improvement project.