Broadridge Funds New Zucker School of Medicine Endowed Deanship for Medical School Scholarships

Rhea-AI Summary

Broadridge Financial Solutions has gifted $3 million to establish an endowed deanship at the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell. The endowment, named the Deborah and Lawrence Smith Dean, honors the school's founding dean and his late wife, supporting medical student scholarships. Dr. David L. Battinelli, current dean and Northwell Health's executive VP and physician-in-chief, is the inaugural recipient.

This gift aims to enable more students to graduate debt-free from the top-ranked medical school. Broadridge, a global technology leader, has been a consistent supporter of Hofstra University and the Zucker School of Medicine since 2011. The endowment will fund scholarships for incoming medical students starting with the class of 2025.

The Zucker School of Medicine, founded in 2008 through a partnership between Hofstra University and Northwell Health, has gained national recognition for its outcomes, faculty, research opportunities, and innovative approach to medical education. It was recently ranked among the top tier for medical research and recognized as one of the most diverse schools in the nation by U.S. News & World Report.

Positive

• Broadridge Financial Solutions donated $3 million to establish an endowed deanship
• The endowment will support medical student scholarships at the Zucker School of Medicine
• Zucker School of Medicine ranked in the top tier for medical research by U.S. News & World Report
• The school was recognized as one of the most diverse in the nation, tied for fourth in New York State

Negative

• None.

Insights

Financial Analyst

Broadridge's $3 million gift to establish an endowed deanship at the Zucker School of Medicine is a strategic philanthropic investment that aligns with the company's corporate social responsibility initiatives. While the immediate financial impact on Broadridge (NYSE: BR) is minimal given its $25 billion market cap, this move could yield long-term benefits:

• Enhanced brand reputation in the healthcare sector, potentially opening doors for future business opportunities
• Strengthened talent pipeline through increased visibility among medical professionals
• Tax benefits associated with charitable contributions

The endowment's focus on medical student scholarships could indirectly benefit Broadridge by fostering goodwill and potential future partnerships in the healthcare industry. However, investors should note that such philanthropic activities, while positive for corporate image, typically have direct impact on short-term financial performance.

Medical Research Analyst

This endowment marks a significant development for the Zucker School of Medicine, potentially enhancing its ability to attract top talent and improve educational outcomes. Key points to consider:

• The school's recent ranking in the top tier for medical research by U.S. News & World Report indicates strong academic performance
• Increased scholarship funding could lead to a more diverse student body, addressing the critical need for representation in healthcare
• The school's integration with Northwell Health provides unique clinical exposure for students, a valuable differentiator in medical education

From a broader perspective, this investment in medical education could contribute to addressing physician shortages and improving healthcare delivery in the long term. For Broadridge, while not directly related to its core business, this partnership demonstrates a commitment to community health that could resonate positively with stakeholders and potentially open doors for future health tech collaborations.

HEMPSTEAD, N.Y.--(BUSINESS WIRE)-- Northwell Health and the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell, in partnership with Broadridge Financial Solutions, have announced the establishment of an endowed deanship supporting medical student scholarships, funded by a generous $3 million gift from Broadridge Financial Solutions. The newly named Deborah and Lawrence Smith Dean of the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell position honors the institution's founding dean and his late wife, who both played pivotal roles in the school’s creation in 2008. David L. Battinelli, MD, dean of the Zucker School of Medicine and executive vice president and physician-in-chief of Northwell Health, has been named the inaugural recipient of the endowment, which will enable more students to graduate debt-free from a top-ranked medical school, fully prepared to provide exceptional care to their patients and communities.

Broadridge Financial Solutions generously gifted $3 million to the Zucker School of Medicine at Hofstra/Northwell, establishing an endowed deanship in honor of Founding Dean Dr. Lawrence G. Smith and his late wife, Deborah, and supporting scholarships for medical students. Pictured (L to R): Zucker School of Medicine Dean David L. Battinelli, MD; Founding Dean Lawrence G. Smith, MD, MACP; and Rich Daly, Executive Chairman, Broadridge Financial Solutions. Photo Credit: Northwell Health Studios

“We are immensely grateful to Broadridge for their transformative support in helping us offer more scholarships for students in need, allowing them to focus fully on their studies and provide the best patient care,” said Dr. Battinelli. “It is a profound honor to be the first dean to hold this endowed position, which pays tribute to my dear friend and colleague Dr. Smith and honors the memory of his compassionate wife, Deborah. Their legacy of service and humanitarianism will live on through the success of our future physicians.”

Broadridge is a Long Island-headquartered global technology leader that provides mission critical infrastructure and services that power investing, governance and communications. In addition to its trusted and transformative role in financial services, Broadridge has delivered on its long-standing commitment to corporate social responsibility locally and globally. Through the financial support and initiatives of its foundation, Broadridge has consistently demonstrated its dedication to removing barriers to education and helping at-risk youth reach their full potential. Since 2011, Broadridge has been a steadfast supporter of Hofstra University and the Zucker School of Medicine, funding scholarships and programs across schools at the university that have provided essential financial aid to aspiring business and health care professionals. This latest gift to the medical school is a testament to the organization's unwavering commitment to the medical school’s future and will establish scholarships for incoming medical students, beginning with the new class entering in 2025.

“Broadridge’s long association with Northwell Health has proven to be a key differentiator, enabling Broadridge to remain an employer of choice to our associates, specifically through our in-house medical facilities which are affiliated with Northwell physicians, physician assistants and nurses,” said Tim Gokey, CEO of Broadridge. Rich Daly, executive chairman of Broadridge, added, “I have had the privilege of knowing Larry and Debbie Smith for over 40 years. Larry’s never-ending commitment to help all of Broadridge’s associates obtain the best medical care available has extended and saved many of our associates’ lives. All of us at Broadridge are proud to honor Larry and Debbie and support the entire exceptional Northwell Health system.”

Since welcoming its first class in 2011, the Zucker School of Medicine – founded through a partnership between Hofstra University and Northwell Health – has gained national recognition for its outstanding outcomes, distinguished faculty, research opportunities and innovative approach to medical education. The school was recently named among the 2024 Best Graduate Schools for Medicine by U.S. News & World Report, ranking in the top tier for medical research and recognized as one of the most diverse schools in the nation, tied for fourth in New York State.

Founding Dean Lawrence G. Smith, MD, MACP, guided the school through significant milestones, including its first graduating class in 2015, full accreditation the same year and reaccreditation in 2020. Dr. Smith also championed initiatives to promote diversity and equity in the medical field, such as the Medical Scholars Pipeline Program, launched in 2010 to support underserved students pursuing careers in health care.

“I am deeply honored by this recognition from the Zucker School of Medicine and the Broadridge Foundation,” said Dr. Smith, who served as dean until his retirement in 2022. “This is not just a personal honor but a tribute to the values of compassion and service that define our school.”

Deborah Smith, a passionate advocate for human rights, played a crucial role in shaping the school’s culture, mission and vision. Her devotion to ending food insecurity and advancing global welfare continues to inspire the school’s ongoing commitment to social responsibility – a value strongly aligned with the Broadridge Foundation’s philanthropic mission. “Debbie would be thrilled that our names are now attached to a legacy that will help more students achieve their dreams of becoming physicians, ultimately shaping the future of medicine and improving health care and uplifting communities,” added Dr. Smith.

While serving as founding dean, Dr. Smith was also the chief medical officer for Northwell Health, New York State’s largest health care provider. He served in that role from 2006 to 2011 before transitioning to physician-in-chief until December 2021. This unique dual role enabled the Zucker School of Medicine to leverage Northwell Health’s extensive clinical resources, seamlessly integrating academic coursework with hands-on clinical experiences from day one of medical school.

Dr. Battinelli, who succeeded Dr. Smith as dean of the Zucker School of Medicine in 2022, is a founding member of the medical school and previously served as its vice dean and dean for medical education. He also chaired the committee charged with developing the new medical school’s curriculum.

Dr. Battinelli will be formally installed as the Deborah and Lawrence Smith Dean of the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell, along with other endowed professors and chairs, during Northwell’s sixth annual Celebration of Excellence event on October 9 at the New-York Historical Society in New York City. The event brings together philanthropists, physician-scientists and clinical leaders who are shaping the future of health care through excellence in academic medicine.

Endowed gifts provide financial stability in perpetuity, which allows Northwell to make strategic investments that propel new research, advance medicine and support education and training for the next generation of health care professionals. Endowment support is an integral part of Northwell’s Outpacing the Impossible campaign, a $1.4 billion comprehensive fundraising effort to fuel innovation and support Northwell’s promise to the people it serves. To date, the campaign has raised more than $1.36 billion with $246 million supporting endowment, including 30 new chairs and professors.

“We are grateful to donors like Broadridge, whose vital investment in our clinicians, scientists and students enables us to elevate research and improve clinical care,” said Brian T. Lally, president of the Northwell Foundation and chief development officer at Northwell Health. “Supporting student scholarships through this endowed deanship will have a profound impact on a new generation of health care leaders and practitioners as well as patients in Northwell’s communities and around the world.”

Zucker School of Medicine graduates consistently match into top residencies nationwide, including at Northwell Health, which offers over 200 residency and fellowship programs based at 15 Northwell hospitals. Since its inception, the medical school has trained ten graduating classes of physicians, scientists, and researchers who are serving patients and leading the transformation of medicine and health care nationally and globally.

“We thank the Broadridge Foundation for this generous gift, named in honor of Deborah and Dr. Lawrence Smith,” said Hofstra University President Susan Poser. “The financial support provided by the endowment will give generations of medical students the security to pursue their academic and professional goals, while affirming the Zucker School’s leadership role in the health care community.”

About the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell
Established in 2008, the Donald and Barbara Zucker School of Medicine at Hofstra/Northwell was founded by two equal partners: Hofstra University and Northwell Health. The School of Medicine is built upon the strong clinical and graduate medical education programs of Northwell, as well as the robust research and academic programs of both Hofstra and Northwell’s Feinstein Institutes for Medical Research. For nine years in a row, the Zucker School of Medicine has been recognized among the top medical schools nationwide for medical research (2016-2024, U.S. News & World Report’s Best Graduate Schools), and for the fourth year as one of the most diverse medical schools in the country (2021-2024, U.S. News & World Report’s Best Graduate Schools). The institution comprises more than 4,000 faculty members across 25 academic departments and enrolls a diverse community of over 400 students. For more information, visit medicine.hofstra.edu.

About Broadridge
Broadridge Financial Solutions (NYSE: BR), is a global technology leader with the trusted expertise and transformative technology to help clients and the financial services industry operate, innovate, and grow. We power investing, governance, and communications – enhancing operational resiliency, elevating business performance, and transforming the investor experience.

Our technology and operations platforms underpin the daily trading of more than $10 trillion of equities, fixed income and other securities globally. A certified Great Place to Work®, Broadridge is part of the S&P 500® Index, employing over 14,000 associates in 21 countries. For more information about us, please visit www.broadridge.com.

About Northwell Health
Northwell Health is New York State’s largest health care provider and private employer, with 21 hospitals, about 900 outpatient facilities and more than 12,000 affiliated physicians. We care for over two million people annually in the New York metro area and beyond, thanks to philanthropic support from our communities. Our 87,000 employees – 18,900 nurses and 4,900 employed doctors, including members of Northwell Health Physician Partners – are working to change health care for the better. We’re making breakthroughs in medicine at the Feinstein Institutes for Medical Research. We're training the next generation of medical professionals at the visionary Donald and Barbara Zucker School of Medicine at Hofstra/Northwell and the Hofstra Northwell School of Nursing and Physician Assistant Studies. For information on our more than 100 medical specialties, visit Northwell.edu and follow us @NorthwellHealth on Facebook, X, Instagram and LinkedIn.

View source version on businesswire.com: https://www.businesswire.com/news/home/20241007206518/en/

Lois Bentivegna, Zucker School of Medicine

516-402-2943/Lois.bentivegna@hofstra.edu

Gregg Rosenberg, Broadridge

Gregg.Rosenberg@broadridge.com

Kerri Tortorella, Northwell Health

Ktortorel1@northwell.edu

Source: Northwell Health

FAQ

What is the purpose of Broadridge's $3 million gift to the Zucker School of Medicine?

The $3 million gift from Broadridge Financial Solutions (BR) establishes an endowed deanship to support medical student scholarships, enabling more students to graduate debt-free from the Zucker School of Medicine.

Who is the first recipient of the Deborah and Lawrence Smith Dean endowment?

Dr. David L. Battinelli, current dean of the Zucker School of Medicine and executive vice president and physician-in-chief of Northwell Health, is the inaugural recipient of the Deborah and Lawrence Smith Dean endowment.

When will the scholarships funded by Broadridge's gift begin?

The scholarships funded by Broadridge's gift will begin with the new class of medical students entering the Zucker School of Medicine in 2025.

How has the Zucker School of Medicine been ranked recently?

The Zucker School of Medicine was recently named among the 2024 Best Graduate Schools for Medicine by U.S. News & World Report, ranking in the top tier for medical research and recognized as one of the most diverse schools in the nation.