Baltimore-based University of Maryland Medical System has committed $14 million to address disparities including economic development and food insecurity in its service areas. More than half its investees are Baltimore-focused, and 75 percent of are Black-led or Black- and woman-led.
The financial commitment rests in 11 equity and fixed income investments, according to a Sept. 15 news release from the health system. The investees are a mix of community development financial institutions and private equity firms. Among them are Baltimore Community Lending, which seeks to revitalize downtown Baltimore, and FSC First, which provides direct loans to minority-owned businesses contributing to healthcare developments.
"This means using some of our investment portfolio to help address the resource gaps that keep communities from achieving better health and well-being while still gaining a positive financial return," Mohan Suntha, MD, the health system's CEO, said in the release.