TD Bank Group has announced it will contribute C$1 million to the McGill University Health Center (MUHC) Foundation for an innovative project to facilitate access to health care in Northern Quebec. Toronto-Dominion Bank (TD) is the fifth-largest bank in North America by branches.
This project, led by Dr. Reza Forghani and Dr Caroline Reinhold, will use artificial intelligence (AI) to analyze emergency medical images that require urgent examination. This will help to accelerate care and could potentially save lives. Julie Quenneville, President and CEO of the MUHC Foundation, said that as patients who suffer a stroke in rural communities are 30% more likely to die than patients in urban areas, every second counts when providing urgent care to these communities.
Sylvie Demers, Chair, Quebec Market, TD Bank Group, said, “We are determined to increase our investment in research, technology and innovative solutions that are focused on helping to provide equality of access to health care. The MUHC Foundation’s project is geared to help improve access to radiology which in turn can help improve early diagnosis and detection for the benefit of the health of isolated communities in Quebec.”
TD is making this donation to the MUHC Foundation through TD Ready Commitment, the bank’s corporate citizenship platform. (See Toronto-Dominion Bank stock chart on TipRanks)
Last week, National Bank analyst Gabriel Dechaine reiterated a Hold rating on TD but raised its price target to C$91.00 (from C$89.00). This implies 3.9% upside potential.
TD scores a 4 out of 10 on TipRanks’ Smart Score rating system, indicating that the stock returns are likely to perform in line with the overall market.