Asheville, N.C.-based Mission Health is launching the HCA Healthcare Mission Fund, a $25 million trust to support innovation initiatives among western North Carolina's healthcare-related small businesses.
The fund's initial investments will vary between $500,000 to $5 million, with opportunities for additional funding in the future.
The fund is slated to sponsor Venture Asheville's 2020 Asheville Impact Micro Grant program by providing $10,000 for the grant competition, including a $5,000 grant designated explicitly for a health and wellness startup.
Mission Health has been developing the fund since being acquired by Nashville, Tenn.-based HCA Healthcare in February 2019. The fund's launch comes as healthcare businesses in western North Carolina are facing challenges and financial insecurity due to the pandemic.
Read the full news release here.