In 2020 Richard W Vaudry wrote an extensive biography of Holmes, linking him closely with the world of English-speaking Protestants in Montreal and Quebec.

It continues to be awarded annually to the McGill University (Montreal) medical school student who achieves the highest academic standing upon graduation.

as: "Since the last convocation, the Medical Faculty in this University determined to establish a gold medal prize to be awarded for superior excellence to a member of the graduating class only.

It is to perpetuate the memory of one of the original founders of the school, the late Dr. Holmes, a man who in his walk through life commanded the love and esteem of all who knew him, from his many excellent qualities as a scholar and Christian gentleman.

On one side of the medal is seen in bold relief the head of Hippocrates, with the name in Greek characters; and on the obverse is the coat-of-arms of the College, beneath which is the following, "Facultas Medicinæ Donavit".