MONTREAL, April 14, 2020 /CNW/ - Scotiabank and the Canadian Medical Association, in collaboration with MD Financial Management Inc. (MD), today announced they will be contributing $200,000 to the Code Life Ventilator Challenge.

A joint initiative between the Montreal General Hospital Foundation (MGHF) and the Research Institute of the McGill University Health Centre (RI-MUHC), the Code Life Ventilator Challenge is an international design competition that was held in March to create a simple, low-cost, easy-to-manufacture and easy-to-maintain ventilator.

"We are pleased to do our part in supporting healthcare professionals, as they protect the most vulnerable Canadians from this pandemic. This is one such initiative that we hope alleviates some of the burden and helps save lives," said Glen Gowland, Group Head, Global Wealth Management at Scotiabank.

Entries from more than 2,600 engineers, scientists, programmers and medical technology experts from 90 countries were received by the March 31 deadline.

"Innovation is an essential pillar of the COVID-19 response, and we are pleased to support a dynamic process that leads to real solutions to address mounting pressures on our healthcare system. We're fortunate to have the depth of innovative thinkers and leaders in Canada and elsewhere in the world to create solutions that will have an impact on patient care," said Dr. Abdo Shabah, CMA's Board representative in Quebec and spokesperson.

This financial contribution, which will be used as prize money and for other key operational costs to support the Challenge, is the latest in a series of contributions through the Scotiabank and CMA 10-year agreement to support Canada's medical profession. Scotiabank and MD continue to work proactively with the CMA and their partner organizations to understand what is most needed and how the medical profession can be best supported.

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 is investing $115 million over 10 years to support physicians and the communities they serve across Canada.

About Scotiabank 
Scotiabank is a leading bank in the Americas. Guided by our purpose: "for every future," we help our customers, their families and their communities achieve success 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 approximately 100,000 employees and assets of approximately $1.2 trillion (as at January 31, 2020), Scotiabank trades on the Toronto Stock Exchange (TSX: BNS) and New York Stock Exchange (NYSE: BNS). For more information, please visit http://www.scotiabank.com and follow us on Twitter @ScotiabankViews.

About the Canadian Medical Association 
The Canadian Medical Association is 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.

About MD Financial Management Inc.
With more than 50 years of physician-focused experience, MD Financial Management Inc. (MD) is dedicated to providing financial peace of mind to Canada's physicians and their families, so they can enjoy what matters most to them while achieving their career and life goals. MD had more than $45 billion in assets under management as of March 30, 2020.  MD Financial Management Inc. wholly owns MD Management Limited. MD Management Limited was the first of the MD Group of Companies to be founded, in 1969. For a detailed list of the MD Group of Companies, visit md.ca.

SOURCE Scotiabank