From left: Dennis S. Charney, MD; Mark Kostegan, Chief Development Officer; Peter W. May, Chairman, Boards of Trustees; and Kenneth L. Davis, MD.
The Mount Sinai Health System has launched a new capital campaign that is expected to raise $1.5 billion over the next seven years and serve as the organization’s roadmap for the future in medical research, patient care, and education.
As fundraising begins in earnest in 2018, Mount Sinai will steer a course that calls for significant investments in precision medicine, next generation health care, and emerging areas in cancer, immunology, neuroscience, heart disease, pediatrics, and other specialties.
This is the first capital campaign since the formation of the Mount Sinai Health System in 2013, when The Mount Sinai Hospital, Mount Sinai Queens, and the Icahn School of Medicine at Mount Sinai combined with the former Continuum Health Partners and its five hospitals to become one of the largest health systems in the New York region.
“We anticipate that our new capital campaign will be transformational, a game changer that is as successful as the campaign we undertook 10 years ago for The Mount Sinai Hospital and the Icahn School of Medicine,” says Kenneth L. Davis, MD, President and Chief Executive Officer of the Mount Sinai Health System. The earlier campaign raised $1.6 billion and led to the creation of 19 research institutes, the recruitment of 150 academic faculty, and the establishment of the 500,000 square-foot Leon and Norma Hess Center for Science and Medicine.
Backed by robust investment, Mount Sinai advanced its research portfolio and experienced significant growth in funding for genetics, microbiology, pharmacology, and neurosciences from the National Institutes of Health. In addition, The Tisch Cancer Institute expanded its programs and received the elite classification as a National Cancer Institute-designated cancer center, one of 69 such centers in the country.
Mount Sinai also broadened its culture of innovation and entrepreneurship by entering into educational and industry partnerships and investing in high-performance computing, genomics, and multiscale biology.
The new strategic plan was the result of a yearlong study led by Dennis S. Charney, MD, Anne and Joel Ehrenkranz Dean, Icahn School of Medicine at Mount Sinai and President for Academic Affairs, Mount Sinai Health System; and Eric J. Nestler, MD, PhD, Dean for Academic and Scientific Affairs, Director of The Friedman Brain Institute, and Nash Family Professor of Neuroscience.
“We enlisted 200 faculty members and more than 150 external experts—some of the best minds in science and medicine—to participate in a dynamic exchange of knowledge and ideas that would help us chart our future in education, biomedical science, and clinical research with the ultimate goal to improve human health,” says Dr. Charney. “Our campaign is based on their bold recommendations.”
To fully capture the clinical and capital needs of Mount Sinai’s seven hospitals, each hospital president worked closely with Margaret Pastuszko, MBA, Chief Strategy and Integration Officer, and her team to establish priorities and develop a strategic plan to support the unique strengths of each hospital.
The new capital campaign will help fund strategic investment in infrastructure, equipment, training, and other services. Mount Sinai’s patients will receive advanced clinical care in every hospital throughout the Health System. This coordinated approach, in combination with world-renowned research, will enable Mount Sinai to achieve its objective—improving human health.
Plans call for Mount Sinai to expand the scope of its advanced research and clinical care in diabetes and obesity, and kidney, lung, and gastrointestinal disease. In addition, Mount Sinai will leverage its large and diverse patient population to excel in areas that include drug addiction, and environmental, adolescent, and women’s health. It will establish five institutes devoted to this research and to creating transformative clinical trials.
“The connectivity between our education, research, and clinical care reflects a collaborative and unified Health System,” says Mark Kostegan, Chief Development Officer and Senior Vice President for Development, Mount Sinai Health System, who is leading the current campaign and led the earlier one. “Our new effort will strengthen Mount Sinai in its entirety, advancing all of our hospitals and our school.”