November 16, 2018

Alix modeled his firm on Mayo Clinic, then gave $200 million

By Karl W Oestreich

Bloomberg
by Reade Pickert

When the doctors at Mayo Clinic in Rochester, Minnesota, saw Jay Alix for an annual exam 25 years ago, they had no idea he would go on to Bloomberg logodonate millions of dollars to the nonprofit. The corporate turnaround specialist is pledging $200 million to what will now be called the Mayo Clinic Alix School of Medicine, the largest gift Mayo Clinic has received from a living donor. The money will expand scholarships, establish a professorship and fund further innovation in the school’s curriculum, according to a statement Tuesday. “Mayo has a clear-eyed view of what medicine and what doctors will need to be and do in the future,” Alix said in a phone interview. “I think this gift is transformational for Mayo to achieve those hopes and dreams and to bring Mayo to the forefront of medical education.”

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Additional coverage:

Chronicle Of Philanthropy, Mayo Clinic Gets $200 Million for Medical School: Gifts Roundup by Maria Di Mento — Billionaire Jay Alix donated $200 million to endow the School of Medicine, back scholarships for medical students there, and support a professorship. The school will be renamed Mayo Clinic Alix School of Medicine. Alix founded AlixPartners, a consulting firm that specializes in the restructuring of troubled corporations. The firm advised giants like General Motors and Enron after they filed for Chapter 11 bankruptcy. Alix sold his firm in 2006 to Hellman & Friedman for an undisclosed amount.

FOX Business, Mayo Clinic adding AI to curriculum — AlixPartners founder Jay Alix and Mayo Clinic CEO Dr. John Noseworthy on Jay Alix' gift of $200 million to the Mayo Clinic School of Medicine, improving health care in America and the impact of technology on medicine.

Reuters, Mayo Clinic gets $200 million donation from turnaround expert Jay Alix — The Mayo Clinic on Tuesday said it received $200 million, the largest donation the academic medical center has ever received, from Jay Alix, founder of the consulting firm Alix Partners. The Minnesota-based non-profit organization said the donation would help it widen scholarships and further research at its medical school.  Alix is one of Mayo’s Clinic’s trustees and the co-chair of the medical center’s global advisory council.

Associated PressMayo Clinic Receives Record $200M Gift From Michigan Donor — A corporate strategist from Michigan has given Mayo Clinic its largest gift ever — $200 million. The Rochester-based medical center announced Tuesday that its School of Medicine will be named for the philanthropist, Jay Alix, of Birmingham, Michigan. He also has been named to the Mayo Clinic Board of Trustees. Alix said his interest in Mayo began in the 1980s when he studied its business model as he was creating what would become AlixPartners, his consulting firm. The Alix Foundation has given Mayo millions of dollars in recent years toward improving its clinical care. The latest record gift is aimed at helping prepare the medical school for the future and make medical education more affordable.

Fortune, The Mayo Clinic Just Received Its Largest Donation Ever by Emily Price — The Mayo Clinic just received its largest donation ever, $200 million from Jay Alix, the founder of a corporate consulting firm. The gift is specifically to help offset the cost of medical school for future doctors and to help train them in technologies such as artificial intelligence and genetics, which are becoming central to modern medicine. The cost of medical school at Mayo is currently around $50,000 a year. In recognition of the gift, the health care provider is renaming its medical school the Mayo Clinic Alix School of Medicine, The StarTribune reports.

Star Tribune, Mayo Clinic gets its largest gift ever: $200 million to train doctors of the future by Jeremy Olson — The founder of a corporate turnaround firm is donating $200 million to Mayo Clinic to help future doctors afford medical school and train them in areas such as genetics and artificial intelligence that are becoming central to modern medicine. The endowment gift by Jay Alix, announced Tuesday morning, is the largest in Mayo’s history. The Rochester-based health care provider is renaming its medical school as the Mayo Clinic Alix School of Medicine in recognition. “This gift will have a long-lasting impact as we boldly transform medical education and research training so the next generation of care providers can improve patient care, accelerate discovery and advance the practice of medicine,” said Dr. John Noseworthy, Mayo’s president and chief executive, in a written statement. Alix of Birmingham, Mich., said he has long admired and studied Mayo’s “one-stop shop” approach to treating patients with complex illnesses, and wanted to preserve that legacy for the next generation of doctors.

MPR, Corporate turnaround specialist gives Mayo Clinic $200 million by Bill Catlin — Jay Alix, the corporate consultant who helped General Motors survive the Great Recession, is giving $200 million to Mayo Clinic to be dedicated to the medical school, which will be renamed the Mayo Clinic Alix School of Medicine in his honor. The largest single gift in Mayo's history will expand scholarship opportunities, further innovation in the school's curriculum and establish a professorship, according to a statement from the clinic… Mayo Clinic CEO John Noseworthy called the gift a "transformative endowment," saying "it enables faculty and students to explore new academic fields to better patient care, conduct research, apply new technologies and develop innovative teaching methods far into the future."

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Context: Mayo Clinic has announced a gift of $200 million from Jay Alix, noted philanthropist of Birmingham, Mich. and founder of the firm, AlixPartners. The endowment gift, the largest ever to Mayo Clinic, is designated to Mayo Clinic School of Medicine. It recognizes the importance of educating the next generation of physicians who will carry on Mayo’s tradition of solving the most serious and complex medical challenges – one patient at a time. In appreciation of his generous gift, which will expand scholarship opportunities, further innovation in the school’s curriculum, and establish a professorship, Mayo Clinic School of Medicine now will be known as: Mayo Clinic Alix School of Medicine. “My primary philanthropic interests are medicine and education. Mayo Clinic Alix School of Medicine will offer an ideal opportunity to advance both fields,” says Mr. Alix. “Genetics, artificial intelligence, virtual and augmented reality and other technologies are transforming medical research, education and practice. This gift will further enable Mayo’s medical school to recruit the best medical students and to create a curriculum that trains them to harness evolving radical advances in medical science and technology to the greatest benefit of patients.” You can read more about the gift on Mayo Clinic News Network.

Contacts:  Matt Brenden, Karl Oestreich

 

 

 

 

 

 

Tags: Bloomberg, Jay Alix, Mayo Clinic Alix School of Medicine, philantropy, Uncategorized

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