Market Overview

ProMedica Impact Fund Launches as Communities Prepare for Post-COVID-19 Needs

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TOLEDO, Ohio, April 7, 2020 /PRNewswire/ -- ProMedica is announcing the launch of The ProMedica Impact Fund (PIF), a nationwide philanthropic approach to improving the health and well-being of individuals by accelerating efforts around the Social Determinants of Health (SDOH). The ProMedica Impact Fund will help address needs that were already critical in so many communities, and are now being intensified by the COVID-19 crisis.

"The need to create a new model of health and well-being has been known for years, and it's clear that we need a new path that addresses public health, primary care, mental health and major investments in SDOH," said Randy Oostra, ProMedica President and CEO. "It's never been more critical than it is now to direct significantly more resources to people's basic needs. Now is the time for a major social impact in our country."

ProMedica will leverage 10 years of expertise in addressing the underlying social and environmental effects on health and collaborating with community-based organizations to address issues like hunger, affordable housing, workforce development and education.

"Our belief is that The ProMedica Impact Fund is the right response, at the right time, being built with the right collaboration between national philanthropy and expanded local programs," said Mr. Oostra.

ProMedica has set a goal of raising $1 billion in the next eight years to support this ongoing work to transform the health of communities. 

The PIF will invest in three categories of activities:

  • Grants to not-for-profit agencies whose interventions and outcomes are aligned with the SDOH model for improvement of individual and community health.
  • Creation and scaling of standardized national metrics and data-tracking to align organizations working on critical SDOH initiatives.
  • Seed capital in new businesses and/or agencies that are mission-aligned with the PIF goals.

This year, the PIF will launch in select U.S. cities, with the intention to quickly expand to other communities around the nation. 

"ProMedica is a national health and well-being organization with a proven track record in advancing SDOH initiatives," Mr. Oostra said. "We will forge new partnerships in philanthropy and local interventions to expedite how individuals and communities recover from the personal and economic impact of this disease." 

Learn more about how ProMedica is addressing the Social Determinants of Health.

ProMedica is a mission-based, not-for-profit integrated healthcare organization headquartered in Toledo, Ohio. It serves communities in 28 states. The organization offers acute and ambulatory care, an insurance company with a dental plan, and post-acute and academic business lines. The organization has more than 56,000 employees, 13 hospitals, 2,100+ physicians and advanced practice providers with privileges, 900+ healthcare providers employed by ProMedica Physicians, a health plan, and nearly 400 assisted living facilities, skilled nursing and rehabilitation centers, memory care communities, outpatient rehabilitation clinics, and hospice and home health care agencies. Driven by its mission to improve your health and well-being, ProMedica has been nationally recognized for its advocacy programs and efforts to address social determinants of health. For more information about ProMedica, please visit www.promedica.org/aboutus.  

Cision View original content:http://www.prnewswire.com/news-releases/promedica-impact-fund-launches-as-communities-prepare-for-post-covid-19-needs-301037145.html

SOURCE ProMedica

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