A New York City real estate mogul has given $50 million to the Albany Medical Center to establish what is believed to be the biggest medical award in the U.S., The New York Times reported Nov. 17.
The Albany Medical Center Prize in Medicine and Biomedical Research, to be awarded for the first time next spring, will give $500,000 annually to doctors for improving health care or making major research discoveries.
The award is being created by Morris Silverman, 89, and has three main goals: focus attention on the medical center, focus international attention on the city of Albany as a health-care center and raise awareness of the role that academic medical centers play in medicine throughout the world.
The prize is believed to be the second-largest for medicine in the world, trailing only the Nobel Prize in Sweden, which is worth nearly $1 million.
For full story, go to The New York Times.