SIOUX FALLS, S.D. - Sanford Health is creating a $1 million global medical research prize to honor advancements in medicine.
A review panel of medical experts will assess medical achievements early next year. Sanford doctors and researchers won't be eligible because the company wants to spur discoveries outside its system.
The prize amount will make the award one of the largest in the world, compared to the Nobel Peace Prize's more than $923,000 award.
Sanford officials hope offering an award will encourage researchers and physicians to push more boundaries and make meaningful scientific discoveries beyond the borders of Sioux Falls.
The prize will be a continuing award presented every other December starting next year.