Scientific research into the causes and treatment of amyotrophic lateral sclerosis is getting a big boost from Affiliated Managers Group Inc.
The West Palm Beach, Fla.-based money manager is making a one-time gift of $20 million to establish the Sean M. Healey & AMG Center for ALS at Massachusetts General Hospital in Boston.
The firm's gift matches more than $20 million in contributions made by the AMG Charitable Foundation, AMG employees, friends of the firm and Sean M. Healey, the firm's executive chairman.
Mr. Healey was diagnosed with ALS, or Lou Gehrig's disease, earlier this year and at the end of May stepped down from his position as CEO of the firm to concentrate on medical treatment.
"We hope that this contribution will benefit thousands of ALS patients in the years to come as researchers improve treatment outcomes and ultimately find a cure for this devastating disease," Nathaniel Dalton, AMG's president and CEO, said in a news release.
"AMG is proud to honor our longtime leader and my friend and partner of nearly 25 years, Sean Healey, as he fights ALS," Mr. Dalton added.
"There has never been a better time for action," Merit E. Cudkowicz, chief of neurology at Mass General and head of the Healey Center, said in the news release.
"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," Ms. Cudkowicz said.
AMG managed $830 million as of Sept. 30. AMG spokesman Jonathan Freedman said he could not provide the size of AMG's foundation.