Toronto Metropolitan University is transforming the former Bramalea Civic Centre in Brampton into its new School of Medicine, marking the first new medical school in the Greater Toronto Area in over a century. Situated in the underserved Peel Region, the school is dedicated to recruiting and training medical professionals from marginalized communities, reflecting a commitment to equity in healthcare.
This philosophy aligns perfectly with the mission of the Moez & Marissa Kassam Equity Fund. Founded by Moez Kassam, a hedge fund manager and co-founder of Anson Funds, the Equity Fund emphasizes creating lasting social impact.
“We believe that investing in equity generates outsized returns for society,” says Kassam. “By supporting the education of future physicians from underrepresented communities, we are building a more just and equitable healthcare system for all Canadians.”
In response to TMU’s call for support of diversity-focused initiatives, the Kassam Fund donated $5 million, the largest gift in TMU’s history. The donation will fund the creation of the Moez & Marissa Kassam Excellence through Equity Scholarships, the first comprehensive scholarship program at the medical school.
The scholarships will provide selected students with $30,000 annually, renewable for up to four years. The annual tuition for TMU’s MD program is $25,604, meaning the scholarship could fully cover tuition costs for recipients.
Kassam, a member of TMU’s Innovation Circle, feels the school’s diversity goals serve a much-needed purpose for Ontario. “We were drawn to the TMU School of Medicine because of its bold vision for the future of health care — one that prioritizes equity, community engagement and a commitment to serving those who need it most.”
TMU’s School of Medicine was established to address critical healthcare shortages in Ontario, particularly in the Peel Region, where access to primary care remains limited. According to Dr. Teresa M. Chan, Dean of the TMU School of Medicine, the donation will help students from underrepresented backgrounds enter the medical field.
“The Kassam family, like TMU, believe in leveling the playing field for excellent students who traditionally face challenges in access to medical education,” said Chan. “The Moez & Marissa Kassam Excellence through Equity Scholarship program will cover full tuition for students demonstrating academic excellence and from communities underrepresented in the medical profession.”
TMU’s strategy to diversify medical education has sparked both support and criticism. The Ontario government previously contacted TMU to clarify that all qualified students, regardless of background, should be considered for admission. In response, TMU President Mohamed Lachemi stated that the university does not use quotas but remains committed to increasing representation in healthcare.
In addition to the scholarships, the Kassams’ $5 million gift will help fund renovations to the building, with the central hall being named the Moez & Marissa Kassam Atrium. The large, sunlit space will serve as a welcoming hub for the School of Medicine’s community.
“True progress comes from empowering individuals and communities. By removing financial barriers to medical education, we are investing in the diverse talent that will shape the future of health care,” said Marissa Kassam, former vice president of philanthropy for Royal Bank of Canada Capital Markets.
TMU has already received over 5,000 applications for just 94 available seats, with offers rolling out in May. The School of Medicine is set to open this July.
