Truist invests over $5 million into Atrium Health Foundation to advance health equity and workforce development in Charlotte

(Neutral)

(Positive)

Rhea-AI Summary

On April 17, 2023, Truist Financial Corporation (NYSE: TFC) announced a generous $5.05 million gift to the Atrium Health Foundation as part of their 'Giving Hope' campaign. This funding aims to enhance health equity and workforce development in underserved communities in Charlotte, North Carolina. A significant portion, $4.5 million over three years, will bolster initiatives such as the launch of two mobile primary care units, expansion of the community doulas program, and creation of a STEM learning laboratory. Additionally, $550,000 will support career pathways for justice-involved individuals through Atrium Health's programs. This partnership underlines Truist's commitment to improving health outcomes and economic mobility for vulnerable groups.

Positive

Truist's $5.05 million investment enhances Atrium Health's community-driven programs.
Funding supports vital initiatives in mobile health care, maternal support, and STEM education.
Aims to create 60 job opportunities for justice-involved individuals over three years.
Strengthens Atrium Health's diversity, equity, and inclusion goals.

Negative

None.

News Market Reaction – TFC

+3.04%

+3.04% Session move

In the trading session that priced this news, TFC gained 3.04%, reflecting a moderate positive market reaction.

Data tracked by StockTitan Argus on the day of publication.

AI-generated analysis. How Rhea-AI works. Not financial advice.

See more from StockTitan in Google Search and AI answers. Adds StockTitan as a preferred source · opens Google

Add on Google

04/17/2023 - 03:53 PM

Gift to reduce health disparities, create new pathways for health care careers and education

CHARLOTTE, N.C., April 17, 2023 /PRNewswire/ -- Atrium Health announced today a $5.05 million gift to the Atrium Health Foundation "Giving Hope" campaign from the Truist Charitable Fund and Truist Foundation, which will advance several community-driven programs aimed at improving health outcomes and economic mobility for vulnerable community members in the Charlotte area.

"Our purpose is to inspire and build better lives and communities," said Truist Chairman and CEO Bill Rogers. "We are committed to the well-being and vitality of the clients and communities we serve. Atrium Health's mission to improve health, elevate hope and advance healing for all is very much in line with our purpose; together, I believe we truly can make a difference."

A significant portion of the gift will support development of a medical neighborhood – a clinical-community partnership that includes the medical and social supports necessary to address disparities in care – in underserved areas of Charlotte. Additional funds will be designated to help build career pathways for justice-involved individuals and entry-level teammates.

"From launching two new mobile primary care units, to expanding perinatal support for mothers, to creating a STEM learning laboratory for our local middle and high school students, this gift from Truist represents both vision and generosity," said Eugene A. Woods, chief executive officer of Advocate Health, of which Atrium Health is now part. "We are grateful for Bill Rogers' leadership and the partnership with Truist. This is yet another example of how their 'purpose-driven' mission continues to transform countless lives and make our communities better and healthier."

The Truist Charitable Fund has designated $4.5 million over three years to support three significant community-based initiatives focused on mobile primary care, community doulas and STEM learning. The new funds will:

Launch two new mobile primary care units in Atrium Health's Center City and Northeast/Lake Norman areas. The units will serve as an entry point into the health care system by traveling to high-need, at-risk communities. Atrium Health will provide direct care inside the mobile units, in addition to establishing connections to a primary care medical hub and additional wellness and social support services. Over the next three years, Atrium Health projects serving more than 8,700 community members via these units.
Expand Atrium Health's community doulas program, which provides full-spectrum perinatal support, addressing social determinants of health and birth outcomes. The program will connect birthing women of color from low-income and underserved neighborhoods with doulas from their own communities, trained to provide individualized, equitable care and support.
Create a STEM learning laboratory that will be housed in Atrium Health's "The Pearl" innovation district, near Midtown. With Truist's support, STEM learning opportunities will be offered in advance of the laboratory's opening, training local middle and high school students from Title-I Charlotte-Mecklenburg Schools through mentorship and learning opportunities in science, technology, engineering and mathematics.

Truist Foundation has designated $550,000 over three years to support Atrium Health's Restorative Pathways and Sterile Processing Career Pathways programs, both of which target the career prospects and lifelong economic mobility of individuals who may otherwise lack opportunities for training and career growth. Truist Foundation's support will:

Extend Atrium Health's diversity, equity and inclusion goals by hiring – over the next three years – 60 previously incarcerated or justice-involved individuals. Atrium Health's Restorative Pathways program aims to disrupt the cycle of disenfranchisement by offering those individuals a fair chance at employment and a strategy for long-term career progression.
Boost Atrium Health's Sterile Processing Career Pathways program, which will enable 150 high-performing environmental services, materials management, dietary and guest services teammates learn new skills. With support from Truist Foundation, the program will help advance entry-level Atrium Health teammates onto a pathway toward increasingly skilled roles, thus improving the diversity and cultural competency of Atrium Health's workforce.

"Together, Atrium Health and Truist are committed to improving access to health care and extending opportunities to build a productive work force, for now and in years to come," said Heath Campbell, Metrolina regional president at Truist. "By joining forces and leading with care, we hope to build a better Charlotte for all."

About Truist Foundation
Truist Foundation is committed to Truist Financial Corporation's (NYSE: TFC) purpose to inspire and build better lives and communities. Established in 2020, the foundation makes strategic investments in nonprofit organizations to help ensure the communities it serves have more opportunities for a better quality of life. Truist Foundation's grants and activities focus on building career pathways to economic mobility and strengthening small businesses. Learn more at truist.com/foundation.

About Truist Charitable Fund
The Truist Charitable Fund is a donor-advised fund advised by Truist and administered by The Winston-Salem Foundation.

About Truist
Truist Financial Corporation is a purpose-driven financial services company committed to inspiring and building better lives and communities. Truist has leading market share in many high-growth markets in the country, and offers a wide range of products and services through our retail and small business banking, commercial banking, corporate and investment banking, insurance, wealth management, and specialized lending businesses. Headquartered in Charlotte, North Carolina, Truist is a top 10 U.S. commercial bank with total assets of $555 billion as of December 31, 2022. Truist Bank, Member FDIC. Learn more at Truist.com.

About Atrium Health
Atrium Health is a nationally recognized leader in shaping health outcomes through innovative research, education and compassionate patient care. Based in Charlotte, North Carolina, Atrium Health is part of Advocate Health, the fifth-largest nonprofit health system in the United States, which was created from the combination with Advocate Aurora Health. A recognized leader in experiential medical education and groundbreaking research, Wake Forest University School of Medicine is its academic core. Atrium Health is renowned for its top-ranked pediatric, cancer and heart care, as well as organ transplants, burn treatments and specialized musculoskeletal programs Atrium Health is also a leading-edge innovator in virtual care and mobile medicine, providing care close to home and in the home. Ranked nationally among U.S. News & World Report's Best Hospitals in eight pediatric specialties and for rehabilitation, Atrium Health has also received the American Hospital Association's Quest for Quality Prize and its 2021 Carolyn Boone Lewis Equity of Care Award, as well as the 2020 Centers for Medicare & Medicaid Services Health Equity Award for its efforts to reduce racial and ethnic disparities in care. With a commitment to every community it serves, Atrium Health seeks to improve health, elevate hope and advance healing – for all, providing $2.46 billion last year in free and uncompensated care and other community benefits.

About Advocate Health
Advocate Health is the fifth-largest nonprofit integrated health system in the United States – created from the combination of Advocate Aurora Health and Atrium Health. Providing care under the names Advocate Health Care in Illinois, Atrium Health in the Carolinas, Georgia and Alabama, and Aurora Health Care in Wisconsin, Advocate Health is a national leader in clinical innovation, health outcomes, consumer experience and value-based care, with Wake Forest University School of Medicine serving as the academic core of the enterprise. Headquartered in Charlotte, North Carolina, Advocate Health serves nearly 6 million patients and is engaged in hundreds of clinical trials and research studies. It is nationally recognized for its expertise in cardiology, neurosciences, oncology, pediatrics and rehabilitation, as well as organ transplants, burn treatments and specialized musculoskeletal programs. Advocate Health employs nearly 150,000 team members across 67 hospitals and over 1,000 care locations and offers one of the nation's largest graduate medical education programs with over 2,000 residents and fellows across more than 200 programs. Committed to equitable care for all, Advocate Health provides nearly $5 billion in annual community benefits.