MORRISTOWN, N.J., Sept. 21, 2011 /PRNewswire/ -- Bruce I. Jacobs and Kenneth N. Levy, co-founders of Florham Park-based Jacobs Levy Equity Management, have donated $1 million to fund the Jacobs Levy Equity Management Personalized Genomic Medicine Program at Morristown Medical Center in honor of the firm's 25th anniversary, which will be celebrated on Thursday.
"Both our personal and professional lives have long been based in Morris County. What better way to benefit our community and commemorate our firm's quarter-century mark than by looking to the future and embracing this progressive technology," said Bruce Jacobs.
"Our philanthropic philosophy is one of practical impact, what can be done now to help people and make a real difference in their lives," said Ken Levy.
The Jacobs Levy Equity Management Personalized Genomic Medicine Program will integrate genetic medicine into everyday practice at the hospital, enabling physicians to diagnose and design highly personalized treatments for rare diseases as well as common conditions, such as asthma, diabetes, heart disease, and cancer.
Genomics is the study and mapping of all genes in an individual (genome). Historically, genetic tests looked at single genes to identify rare disorders, such as cystic fibrosis or Duchenne muscular dystrophy. Today, advanced and affordable genetic testing can diagnose nearly 2,000 complex and common diseases by looking at multiple gene mutations that can increase a person's risk of developing a particular condition.
"Millions of people worldwide live with diseases that can be diagnosed early to improve outcomes," said Arnold Pallay, MD, who will be the director of the Jacobs Levy Equity Management Personalized Genomic Medicine Program at Morristown Medical Center. "In America, 57 million people have pre-diabetes, 1.5 million are diagnosed with cancer and nearly 26 million with coronary heart disease. Fortunately, many of these cases are preventable, or the onset can be delayed, if they are predicted and diagnosed early and properly. Genomic medicine enables us to do precisely that."
Personalized medicine is the future of health care, Dr. Pallay said. Genome evaluations will enable him and his team to pinpoint the best treatment option with the highest success rate for a particular disease and a particular person. Genomics can also be used to determine a person's predisposition toward preventable disease. This will allow environmental and lifestyle changes to be made and medications or surgery to be suggested in time to delay or even prevent the onset of major illnesses.
"We are very grateful to Bruce Jacobs and Ken Levy for their foresight and generosity to the community they live in. We know this program will have a positive impact on the community we serve," said David Shulkin, MD, president, Morristown Medical Center, and vice president, Atlantic Health System.
The program will begin providing clinical services in October at several Atlantic Health System sites. In early 2012, it will move to 435 South Street, Morristown, NJ, where it will be situated alongside practices offering integrative and metabolic medicine. Atlantic Health System owns and operates Morristown Medical Center, Newton Medical Center, and Overlook Medical Center.
About Bruce Jacobs, Ken Levy, and Jacobs Levy Equity Management
Bruce Jacobs and Ken Levy were both raised in New Jersey. Bruce, Ken, and their families have lived in Morris County, New Jersey for 20 years. Their philanthropic history at Morristown Medical Center includes gifts to its Goryeb Children's Hospital and Gagnon Cardiovascular Institute.
Jacobs Levy Equity Management, founded in 1986, is an independent, leading-edge quantitative equity manager focused exclusively on U.S. equity portfolios. Based in Florham Park, New Jersey, the firm manages assets for a prestigious global roster of corporate pension plans, public retirement systems and endowments/foundations. Many of its clients have appeared in Pensions & Investments' "Top 200 Pension Funds/Sponsors." The firm has a staff of about 60, half of whom are professionals dedicated to research, quantitative systems, and implementation.
About Atlantic Health System
Atlantic Health System is one of the largest non-profit health care systems in New Jersey, comprised of Morristown Medical Center, Overlook Medical Center in Summit and Newton Medical Center. The three medical centers -- all accredited by The Joint Commission -- have a combined total of 1,308 licensed beds and more than 2,750 affiliated physicians providing a wide array of health care services to the residents of Northern and Central New Jersey. Specialty service areas include advanced cardiovascular care, pediatric medical and surgical specialties, neurology, orthopedics, and sports medicine. Each of these programs has earned top ratings and recognitions in their respective fields. Atlantic Health System is the official health care partner of the New York Jets and an official health provider of the New Jersey Devils.
Morristown Medical Center's Gagnon Cardiovascular Institute performs more heart surgeries than any other hospital in New York or New Jersey, and is one of 20 facilities across the country to perform catheter-based repair and replacement of valves on both sides of the heart. Atlantic Health System's spine program – where surgeons perform more spine surgery than anywhere else in New Jersey – is one of just 13 hospitals across the country that has received the Gold Seal of Approval™ from The Joint Commission, achieving Disease-Specific Care Certification for cervical and lumbar spine treatments. With the Atlantic Neuroscience Institute based at Overlook Medical Center, the hospital serves as the hub for the New Jersey Stroke Network, and serves about 40 percent of the state's stroke patients. The system's Goryeb Children's Hospital offers more than 100 board-certified physicians in 20 pediatric specialties. Morristown Medical Center's Emergency Department's Trauma Center is verified as a Level I Regional Trauma Center by the American College of Surgeons and designated a Level II by the state of New Jersey.
Atlantic Health System has been chosen for the past three consecutive years by FORTUNE® as one of the magazine's "100 Best Companies to Work For®." The organization has also been recognized four times by AARP as one of the "Best Employers for Workers over 50." Inside Jersey magazine partnered with Castle Connolly Medical Ltd. and ranked Morristown Medical Center as the No. 1 hospital in New Jersey and the No. 1 hospital for treatment of heart failure and coronary surgery in the state. The survey findings also establish Overlook as No.1 for the treatment of neurological disorders and No. 2 for stroke treatment in NJ. Atlantic Health System is a Major Clinical Research Affiliate with The Cancer Institute of New Jersey and is the primary academic and clinical affiliate in New Jersey of Mount Sinai School of Medicine and The Mount Sinai Hospital.
SOURCE Jacobs Levy Equity Management