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.
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