Today, Scotiabank and MD Financial Management Inc. (MD), in collaboration with the Canadian Medical Association (CMA), are announcing a $3.58 million investment to support professional development for family doctors across the country as well as awards and scholarships for medical students and family medicine residents. Scotiabank and MD have also signed a five-year agreement with the College of Family Physicians of Canada (CFPC) and its Foundation for Advancing Family Medicine (FAFM) to support the next generation of family doctors. Representing nearly half of all physicians in Canada, the CFPC is an important body whose work touches the lives of all Canadians.
The $3.58 million in funding, to be distributed over five years, is the latest in a series of contributions Scotiabank is making to Canada's medical profession as part of its 10-year, $115-million affinity agreement with the CMA. The funds will include annual investments for:
student and family medicine resident scholarships and awards, including funds dedicated to Indigenous students and residents;
the CFPC's Family Medicine Forum, Canada's largest gathering of family physicians for professional development, networking and celebrating the outstanding achievements of family physicians including the Family Physician of the Year awards;
international fellowships in family medicine to support advancing primary care globally; and
family medicine interest groups at medical schools across Canada to inspire students to pursue rewarding careers in family medicine.
The announcement comes just after the CFPC celebrated the anniversary of its founding in June 1954. Leveraging a combined 115 years of experience serving the best interest of physicians, MD, Scotiabank, CFPC and FAFM will work together to explore ways to develop new initiatives to support family physicians in Canada.
"For 50 years, MD has invested in physicians and the issues most important to them and their communities," said Brian Peters, President and CEO of MD Financial Management. "This new sponsorship illustrates our ongoing commitment."
"Scotiabank recognizes the crucial role of family physicians in communities across Canada and is proud to support them through this collaboration with the CFPC, working together to recognize family doctors, provide scholarships to medical students and family medicine residents, and connect the best of family medicine to the international community," said Glen Gowland, Executive Vice President, Global Wealth Management at Scotiabank.
"We are so pleased to support the CFPC through this financial contribution. Family medicine is the backbone of primary care in Canada, and we must seize every opportunity to connect the profession, celebrate its contribution to patient care, and enable professional development," stated Dr. Gigi Osler, CMA President.
"For 65 years and counting, the CFPC remains dedicated to the training, certification and lifelong learning of family doctors," said CFPC President Dr. Paul Sawchuk. "We are very grateful for the generous support from Scotiabank and MD that will help us further enhance this important work, create new opportunities to celebrate outstanding achievements, and encourage a strong future in family medicine for the people in Canada."
About Affinity Contributions
Scotiabank, MD Financial Management (MD) and the Canadian Medical Association (CMA) together are firmly committed to supporting the medical profession and advancing health in Canada. As proof of this commitment, and in collaboration with the CMA and MD, Scotiabank will invest $115 million over the next 10 years to support physicians and the communities they serve across Canada. Additional announcements for the physician community are forthcoming, recognizing that such collaborations are essential to support the profession and effect meaningful change.
Scotiabank is Canada's international bank and a leading financial services provider in the Americas. We are dedicated to helping our more than 25 million customers become better off through a broad range of advice, products and services, including personal and commercial banking, wealth management and private banking, corporate and investment banking, and capital markets. With a team of more than 99,000 employees and assets of over $1 trillion (as at April 30, 2019), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit www.scotiabank.com and follow us on Twitter @ScotiabankViews.
About MD Financial Management Inc.
With 50 years of physician-focused experience, MD has one main goal: to help Canada's physicians achieve financial well-being. MD had $50 billion in assets under administration as of July 5, 2019 and is dedicated to serving Canada's physicians and their families. MD provides financial products and services, the MD Family of Funds and investment counselling services through the MD Group of Companies. For a detailed list of these companies, visit md.ca.
About the College of Family Physicians of Canada
The College of Family Physicians of Canada (CFPC) is the professional organization that represents more than 38,000 members across the country. The College establishes the standards for and accredits postgraduate family medicine training in Canada's 17 medical schools. It reviews and certifies continuing professional development programs and materials that enable family physicians to meet certification and licensing requirements. The CFPC provides high-quality services, supports family medicine teaching and research, and advocates on behalf of the specialty of family medicine, family physicians, and the patients they serve.
About the Foundation for Advancing Family Medicine
The CFPC's Foundation for Advancing Family Medicine (FAFM), formerly known as the Research and Education Foundation, was established in 1994 to provide leadership in family medicine through philanthropy. The FAFM funds programs and projects in family medicine and supports numerous research grants, scholarships, and awards that recognize the achievements of clinicians, teachers, researchers, family medicine residents, and medical students. Our funding priorities (family medicine research and family medicine education, the Patient's Medical Home, and global health care via the Besrour Centre) recognize our most important initiatives and have a meaningful impact on improving patient care in Canada and around the world. https://fafm.cfpc.ca.
About the Canadian Medical Association
Since 1867, the Canadian Medical Association has been the national voice of Canada's medical profession. We work with physicians, residents and medical students on issues that matter to the profession and the health of Canadians. We advocate for policy and programs that drive meaningful change for physicians and their patients.
MD, Yali N'Diaye
College of Family Physicians of Canada
905-629-0900 ext. 432