Northern Ontario leaders invest in NOSM University future doctorsPosted on September 22, 2022
$600,000 raised to support MD students while endowments remain in flux for 2022
A group of leaders made up of prominent Sudbury families, corporations with ties to the North, and philanthropists came together to raise $600,000 for NOSM University students for the 2022 academic year.
“We are extremely grateful to these community-minded leaders who have stepped-up to help NOSM University students—your future doctors and allied health professionals—at a critical time,” says Dr. Sarita Verma, President, Vice-Chancellor, Dean and CEO of NOSM University.
Following the Laurentian University Creditors Vote on September 14, 2022, NOSM University is also assured that the Plan of Arrangement from the CCAA proceedings accounts for the return of approximately $14.6M in endowments for future allocation of student bursaries.
“This is good news for NOSM University and for our future students,” says Dr. Verma. “NOSM University bursaries have been frozen to students in northeastern Ontario since the proceedings began in 2021. Without the quick commitment and support of these compassionate leaders, our students would not have had access to bursaries this year. My sincere thanks to all of them, with the guidance of Dr. Rayudu Koka and Mr. Gerry Lougheed Jr. Our students will benefit from your generosity.”
The group consists of the FDC Foundation, Lougheed Family Foundation, Métis Nation of Ontario, Gerry Perdue, Power Corporation of Canada and Technica Mining.
NOSM University MD students graduate with nearly double the debt load of other medical school graduates across the country. As part of the University’s social accountability mandate, students are in large part recruited from the North, for the North, and often do not have access to the same financial and social means as students in the south.
Now that NOSM University has the green light from the province to add another 30 medical degrees and 41 residency spots over the next five years, building a robust Student Endowment Fund is all the more urgent.
Since 2005, NOSM University has been delivering on its mandate. It has produced 838 MDs, 65 of whom self-identify as Indigenous and 171 of whom self-identify as Francophone. More than half of these health-care practitioners have stayed in Northern Ontario. It is estimated that 340,000 people have received care from a NOSM graduate.
Although there is much to show for its short history, the need for doctors in Northern Ontario is still great with a shortage of more than 350 physicians today.
To support NOSM University student financial aid, please visit nosm.ca.
NOSM University is Canada’s first independent medical university and one of the greatest education and physician workforce strategy success stories of Northern Ontario. More than just a medical university, it was purpose built to address the health needs of the region. While advocating for equitable access to care, the university contributes to the economic development of Northern Ontario. NOSM University relies on the commitment and expertise of the peoples of Northern Ontario to educate health-care professionals to practise in Indigenous, Francophone, rural, remote and underserved communities. With a focus on diversity, inclusion and advocacy, NOSM University is an award-winning, socially accountable organization renowned for its innovative model of distributed, community-engaged education and research.
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