Lawrence Bloomberg believes the nursing profession needs a champion.
So, with the announcement of a $10-million gift yesterday to the University of Toronto, the largest private donation to a Canadian nursing school, and a call to other philanthropists to step up with more investments, the chairman of the Mount Sinai Hospital board hopes to slip into that role.
"Many of my friends and colleagues have asked me, 'Why this gift?' The answer lies in the fact that I've dedicated a large part of my life to the health sector and I know where there are needs," the 64-year-old said at a news conference at the university.
"One of the most important needs that has to be met is boosting the role of nurses in the health system."
The money will be used to lure professors to the nursing school and provide scholarships to attract students.
And Mr. Bloomberg is making the donation at a time when the nursing shortage is expected to worsen as more nurses retire and not enough graduate to fill the void. There will be a shortfall of 78,000 registered nurses in four years, and that number will increase to 113,000 in a decade, according to the Canadian Nurses Association.
Mr. Bloomberg acknowledged that the average age of nurses, now about 45, is increasing.
"For me, this gift is more than a donation. This gift is a priority statement," he said. "Nursing is a priority for the health care of Canadians, and by supporting nursing we are doing something for every Canadian."
He added: "If we focus on nursing, we are focusing on quality of care, patient safety and patient access."
Mr. Bloomberg, the founder of the securities dealer First Marathon Inc., which was bought by the National Bank of Canada, has been active in the health care field for 25 years. Not only is he chair of Mount Sinai's board, but he has been a director of the Baycrest Centre for Geriatric Care and past co-chair of the Toronto Academic Health Science Network.
In announcing the gift to the university yesterday, president David Naylor said Mr. Bloomberg had been "insufficiently acknowledged" for his work in health care.
To recognize his financial contribution, the U of T has named its nursing school after him.
Mr. Bloomberg joins the ranks of other philanthropists who have made private donations to universities and, as a result, have buildings renamed in their honour.
Businessman Seymour Schulich, who was at yesterday's event, has buildings on campuses across the country, including at the University of Calgary and McGill University. Philanthropist Michael DeGroote has been a major private donor to McMaster University, which has subsequently named its business and medical buildings after him.
Mr. Bloomberg said he is not simply writing a cheque to the U of T and walking away. He will sit on an advisory panel of the university's nursing school. He said his work over the years had allowed him to appreciate the work nurses do, and he wants to help the university attract more people to the field.
"If you spend enough time around health care, you would see the important role that nurses play," he said in an interview.
