Meharry Medical College has landed a $175 million investment from Bloomberg Philanthropies. The gift, touted as the largest in the school's history, will go toward the school's endowment fund, according to a press release.
The investment is part of $600 million donated by Bloomberg to the four historically Black medical schools (HBMSs): Charles Drew University of Medicine and Science, Howard University College of Medicine, Morehouse School of Medicine, and Meharry. Bloomberg also donated funding to start Xavier Ochsner College of Medicine, a new medical school in New Orleans. Meharry and its counterparts educate around half of all Black doctors, according to the release.
Bloomberg Philanthropies, founded by entrepreneur and former New York City Mayor Michael Bloomberg, donated the money through its Greenwood Initiative, which focuses on systemic underinvestment in Black institutions. The organization donated $34 million to Meharry in 2020.
After a long and remarkable career, the Meharry Medical College president is at the forefront of Nashville’s battle against the pandemic
“Diversifying the medical field and tackling health inequality are society-wide challenges, and Bloomberg Philanthropies is committed to helping to lead the way in tackling them," Bloomberg says. "This gift builds on our earlier investment in these vital institutions, and it will help new generations of Black doctors build a healthier and more equitable future for our country.”
Meharry Medical College president and CEO Dr. James Hildreth says the college holds a significant place in health care as the country's oldest and largest independent historically Black academic health sciences center.
"For nearly 150 years, Meharrians have committed their lives to eliminating disparities and improving health equity, often in the face of significant discrimination, injustice and adversity," said Hildreth. "This historic investment by Bloomberg Philanthropies is a testament to Meharry’s legacy and to the promise of Meharrians to transform the future of health care for the betterment of all.”
This article was first published by our sister publication, the Nashville Post.
