Seven Toronto hospitals will share in a donation of $21 million from the BMO Financial Group to support medical research, the bank announced Friday.

“The gift, to be granted over the next 10years, serves to highlight Toronto and Canada as a global hub and leading centre for medical research and healthcare,” the bank said in a news release.

The seven hospitals, all affiliated with the University of Toronto’s Medical Faculty, include the Centre for Addiction and Mental Health (CAMH), the Hospital for Sick Children, the Princess Margaret Cancer Centre, St. Michael’s Hospital, Sinai Health System, Sunnybrook Health Sciences Centre and the Toronto Western Hospital.

“This is the biggest philanthropic commitment in our company’s 200-year history,” said Bill Downe, CEO of BMO Financial Group.

“It is truly transformative, and focuses on helping these seven global centres of excellence continue to push the boundaries of medical science.”

“This level of private sector funding and support for these world-class hospitals is an example of what makes Toronto a leader in research and innovation,” said Toronto Mayor John Tory.

“We are proud to be home to a growing and diverse talent pool that will continue to elevate Toronto’s standing as a global hub for medical research and patient care, and look forward to the benefits this announcement will have for patients and families in Toronto and abroad.”