AMG Among Founding Donors to Establish The Sean M. Healey and AMG Center for ALS at Massachusetts General Hospital
WEST PALM BEACH, Fla., Nov. 28, 2018 (GLOBE NEWSWIRE) -- Affiliated Managers Group, Inc. (NYSE: AMG), a global asset management company, today announced that the Company made a $20 million one-time matching gift to advance scientific research in amyotrophic lateral sclerosis (ALS) and develop effective treatments for people with ALS, by helping to establish The Sean M. Healey and AMG Center for ALS at Mass General (“The Healey Center”). The Company’s matching gift brings the total gift commitment to date, including from The AMG Charitable Foundation, along with Sean M. Healey, Executive Chairman, other AMG employees, partners, and other individuals, to over $40 million.
The Sean M. Healey and AMG Center for ALS at Mass General will provide funding for research to greatly accelerate treatment development and bring innovative trial approaches to the field of ALS for the first time. The Healey Center will also support endowed Chairs in Neurology and the research activities of Chair incumbents, as well as annual fellowships for early-career physician-scientists who dedicate themselves to discovering improved ALS treatments and patient care. In addition, the Healey Center will make targeted grants to research groups pursuing promising and forward-thinking ideas, thus drawing new scientists globally into the field of ALS. A Scientific Advisory Committee comprising leading medical experts from around the world will help to shape The Healey Center’s vision and future opportunities.
“For years, AMG has supported charitable and non-profit organizations around the world where our employees live and work, and we are proud of our ongoing commitment to serving our local communities through philanthropy,” said Nathaniel Dalton, President and Chief Executive Officer of AMG. “We hope that this contribution will benefit thousands of ALS patients in the years to come as researchers work to improve treatment outcomes and ultimately find a cure for this devastating disease, and also hope that our gift catalyzes other foundations and individuals to join us in this initiative. AMG is proud to honor our long-time leader, and my friend and partner of nearly 25 years, Sean Healey, as he fights ALS.”
“There has never been a better time for action,” said Merit Cudkowicz, MD, who is an international leader in ALS research, Chief of Neurology at Massachusetts General Hospital, and will lead The Healey Center. “The basic research in ALS has reached the critical point where it can be translated into treatments for people with ALS, and AMG’s impactful gift will immediately be put to work to advance this research. The Healey Center will provide meaningful support to research professionals and dedicated physician-scientists working together to find a cure for ALS and deliver personalized care and greatly-increased access to therapies for people with the disease. AMG’s commitment will benefit people with ALS both locally and globally.”
The Company’s $20 million matching gift will be recognized in the fourth quarter of 2018, and will fund over time.
AMG is a global asset management company with equity investments in leading boutique investment management firms. AMG’s innovative partnership approach allows each Affiliate’s management team to own significant equity in their firm while maintaining operational autonomy. AMG’s strategy is to generate shareholder value through the growth of existing Affiliates, as well as through investments in new Affiliates and additional investments in existing Affiliates. In addition, AMG provides centralized assistance to its Affiliates in strategic matters, marketing, distribution, product development and operations. As of September 30, 2018, AMG’s aggregate assets under management were approximately $830 billion in more than 550 investment products across a broad range of active, return-oriented strategies. For more information, please visit the Company’s website at www.amg.com.
Certain matters discussed in this press release may constitute forward-looking statements within the meaning of the federal securities laws, and could be impacted by a number of factors, including those described under the section entitled “Risk Factors” in our Annual Report on Form 10-K for the year ended December 31, 2017, as such factors may be updated from time to time in our periodic filings with the SEC, which are accessible on the SEC’s website at www.sec.gov. We undertake no obligation to publicly update or review any forward-looking statements, whether as a result of new information, future developments or otherwise, except as required by applicable law. From time to time, AMG may use its website as a distribution channel of material Company information. AMG routinely posts financial and other important information regarding the Company in the Investor Relations section of its website at www.amg.com and encourages investors to consult that section regularly.
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