- BMO's $2 million donation will
go towards the BMO Innovative Clinic for Depression for
people living with difficult-to-treat depression
OTTAWA,
ON, May 30, 2023 /CNW/ - BMO is
increasing access to mental health care with a $2 million donation to The Royal Ottawa Health
Care Group (The Royal) to support the newly-established BMO
Innovative Clinic for Depression. BMO's donation is the
single-largest corporate gift made to The Royal in its history and
will provide increased treatment opportunities to people living
with severe depression and difficult-to-treat depression.
According to Statistics Canada,
one in four Canadians is struggling with a mental health issue. Of
those, one in three say their needs for mental health care are not
fully met with existing services and treatments. Additionally, more
than two million people in Canada
experience major depression every year. One-third of these
individuals experience treatment-resistant depression, meaning
their depression has not yet improved despite multiple treatment
trials.
The BMO Innovative Clinic for Depression will offer
increased treatment access, develop additional research
opportunities, and link to other available treatments and services
at The Royal.
"At BMO we have a long-standing legacy of supporting community
organizations and funding ground-breaking medical research," says
Victor Pellegrino, Regional
President, Personal Banking, Quebec and Eastern
Ontario at BMO and Board Member at The Royal. "With this
donation to The Royal and support for the BMO Innovative Clinic
for Depression, more people in Eastern Ontario can make real progress in
their treatment to help positively transform their lives. BMO is
proud to support the innovative research and compassionate care
delivered at The Royal."
"Widespread investments in mental health research are crucial to
advance the pace of translational research at a time when Canadians
urgently need new approaches to care. With this significant gift,
BMO is enabling innovation and enhancing care in our community. We
cannot do this work without visionary leaders like BMO," says Dr.
Florence Dzierszinski, President, IMHR and Vice President,
Research, The Royal. "The Royal is deeply committed to improving
access to mental health care, including through research. The
BMO Innovative Clinic for Depression will be a place where
individuals can receive a novel treatment to help them live the
life they want."
"BMO and The Royal are cornerstones of the Ottawa community," says Chris Ide, President, Royal Ottawa Foundation.
"We share a commitment to service, stability, integrity and trust.
These shared values have led the bank and its leadership to support
and advocate for mental health care and research at The Royal
generously over the last 10 years. We are deeply grateful."
"By providing novel forms of treatment, the BMO Innovative
Clinic for Depression will give hope to those with
difficult-to-treat depression," says Dr. Jennifer Phillips, Interim Scientific Director,
The Royal's Institute of Mental Health Research (IMHR).
"Moreover, in the community, BMO has demonstrated their deep
commitment to improving the lives of people challenged by mental
illness."
About BMO Financial
Group
BMO Financial Group is the eighth largest bank in North America by assets, with total assets of
$1.25 trillion as of April 30, 2023. Serving customers for 200 years
and counting, BMO is a diverse team of highly engaged employees
providing a broad range of personal and commercial banking, wealth
management, global markets and investment banking products and
services to over 13 million customers across Canada, the United
States, and in select markets globally. Driven by a single
purpose, to Boldly Grow the Good in business and life, BMO is
committed to driving positive change in the world, and making
progress for a thriving economy, sustainable future and inclusive
society.
About The Royal
The Royal is one of Canada's
foremost mental health care, teaching, and research hospitals and
is home to the Royal Ottawa Mental Health Centre, the Brockville
Mental Health Centre, the University of
Ottawa Institute of Mental Health and the Royal Ottawa
Foundation for Mental Health. Our purpose is to expand access, hope
and new possibilities for people with mental health and substance
use health needs through the convergence of client and
family-oriented care, science, education and lived expertise. Click
here to learn more about The Royal, our services, and our
impact.
SOURCE BMO Financial Group