News Room
For immediate release - July 25, 2006
The Ottawa Hospital Receives the Largest Individual Donation in
its History
$7-Million Donation from Investor Eric Sprott and his
wife Vizma will put Canada at the Forefront of Stem Cell Research
(OTTAWA, ONTARIO) – One of Canada’s most successful
investors, Eric Sprott, and his wife Vizma, have made a $7-million
donation to the Ottawa Hospital Research Institute (OHRI), the research
arm of The Ottawa Hospital. The gift – the largest individual
donation in the hospital’s history – will go toward
the creation of an endowment fund to support the new Sprott Centre
for Stem Cell Research, named in honour of the generous donors.
The endowment fund will ensure future growth of the Centre, which
will officially open in November at the Hospital’s General
Campus. The permanent fund will allow some of Canada’s leading
scientists to further advance stem cell research that could one
day lead to cures for some of humanity’s most debilitating
diseases.
The 30,000 square-foot facility will be the largest research centre
in Canada devoted to the study of stem cells. It will house approximately
120 researchers, who will also be affiliated with the University
of Ottawa’s Faculty of Medicine.
“Stem cells have the potential to revolutionize medicine
and possibly lead to cures for diseases like Alzheimer’s,
Parkinson’s and Diabetes,” said Dr. Ron Worton, CEO
and Scientific Director of the OHRI. ”The new Centre will
mean untold benefits for people in our community, now and in the
future.”
“The donation will catapult the Ottawa Hospital and the University
of Ottawa to the forefront of stem cell research and regenerative
medicine in Canada,” said Dr. Michael Rudnicki, Director of
the new Centre and a professor in the Faculty of Medicine at the
University of Ottawa.
"We’re so grateful to Eric and Vizma Sprott,”
said Susan Doyle, President and CEO of the Ottawa Hospital Foundation.
“The very qualities of foresight and vision that have made
Eric Sprott one of Canada’s most successful investors are
now guiding his philanthropy. This donation will accelerate our
progress toward this exciting new era of regenerative medicine."
"Since our first meeting with Dr. Worton and Dr. Michael Rudnicki
(director of the new Centre), we realized that these were exceptional
scientists who would one day play a key role in curing disease on
a global scale,” said Mr. Sprott, Chairman, CEO of Sprott
Asset Management. “We are excited to be a part of that work
and know that our investment will pay enormous dividends some day.”
The Ottawa Hospital Foundation is also announcing today that it
has met the fundraising challenge of The Kresge Foundation. In September
2005, the Ottawa community was issued the challenge to raise $2
million by November 2006 to support the construction of the Centre
for Stem Cell Research as a condition to receive a grant of $800,000
from the U.S.-based foundation. This means that the community has
donated a total of $8.6 million of the $17.4 million cost to build
and equip the Centre, with the balance coming from matching provincial
and federal funds. Today’s donation by Eric and Vizma Sprott
is in addition to the funds raised to build the Centre and will
go toward the future development and growth of the Centre.
The donation by Eric and Vizma Sprott brings the fundraising total
of The Ottawa Hospital Foundation’s Legacy Campaign to an
impressive $85 million. The Campaign’s goal is to raise $100
million over five years for facility upgrades, new equipment and
leading-edge medical research and education.
Eric Sprott has more than 35 years of experience
in the investment industry. Born in Ottawa, Mr. Sprott completed
his undergraduate degree at Carleton University and earned his designation
as a Chartered Accountant. In 1981, he founded Sprott Securities
Inc., and then Sprott Asset Management in 2000.
The Ottawa Hospital (TOH) is a multi-campus, academic
health sciences centre, serving 1.5 million residents of Ottawa
and Eastern Ontario, both in English and French. It provides care
for more patients than any other hospital in Canada, and boasts
specialty centres in cancer, heart, kidney and vision care, as well
as rehabilitation services. For more information, visit The Ottawa
Hospital Web site at www.ottawahospital.on.ca.
The Ottawa Hospital Research Institute (OHRI) is
the research arm of the Ottawa Hospital and an affiliated research
institute of the University of Ottawa. With more than 1,200 scientists,
investigators, trainees and support staff, the OHRI is investigating
human health at every level. For more information, visit the OHRI
website at www.ohri.ca.
The Ottawa Hospital Foundation’s mission
is to inspire and enable people to support the highest quality healthcare
at The Ottawa Hospital and world-class research at the Ottawa Hospital Research Institute. For more information, visit The Ottawa Hospital
Foundation Web site at www.ohfoundation.ca.
For more information, please contact:
Robin Percival
Media & Public Relations Officer
The Ottawa Hospital Foundation
Tel.: 613-798-5555, ext. 18718
rpercival@ottawahospital.on.ca
Jennifer Paterson
Communications Manager
Ottawa Hospital Research Institute
Tel.: 613-798-5555, ext.19691
jpaterson@ohri.ca
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