Mount Sinai Receives $35-million Donation from Judy and Larry Tanenbaum
The donation provides funding for the Hospital's Lunenfeld-Tanenbaum Research Institute.
Kathleen Wynne with Larry and Judy Tanenbaum, Jay Hennick, and Joseph MapaPic: Barry Roden for Mount Sinai Hospital At a press conference Monday morning, Mount Sinai Hospital announced a $35-million donation from Toronto businessman, and Chairman of Maple Leaf Sports & Entertainment, Larry Tanenbaum and his wife Judy.
Joseph Mapa, President and CEO of Mount Sinai Hospital, expressed his gratitude via press release. “Today, we are grateful that they have invested in the future of health care. The impact will be a future of more effective, targeted and efficient treatment of disease."
The Tanenbaum’s philanthropic gesture will help fund the Samuel Lunenfeld Research Institute, prompting a new title – the Lunenfeld-Tanenbaum Research Institute.
The Institute is noted for making significant advances in the studies of cancer, diabetes, maternal and infant health, neurodegenerative diseases, as well as mental disorders. It is ranked first place internationally among top research hospitals that focus on the fight against diabetes.
Tanenbaum hopes his pledge will encourage others to donate to Mount Sinai as well, sending out a clarion call to other philanthropists to match $15-million of his donation.
His goal is to arrive at a total sum of $50-million. He believes his lavish gift is worth every dollar.
"Research is about finding answers to questions, where failure is more common than success, and where the cost of success requires time, patience and investment. Judy and I continue to be inspired and rewarded by the researchers at Mount Sinai and the quiet success they are achieving,” said Tanenbaum in a press release.
It didn't take long before the floodgates opened, and several of Canada's most prestigious officials declared their support and admiration for the Tanenbaums, including Ontario Premier Kathleen Wynne.
“Larry and Judy's gift today is an extraordinary example of what can happen in Ontario when private and public investment work together. It is an inspiring act that will support our research community and change countless lives,” said Wynne.
The Tanenbaums are renowned for their altruism. In 2006, they provided the Hospital with a staggering $25-million.
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