VENTURE CAPITAL POST

The Eric B. Chandler Health Center recently announced the receipt of USD4 million for the establishment of an endowment fund to assure financing capacity is availble to New Jersey's most vulnerable residents. The said fund was raised through the efforts of the Robert Wood Johnson Foundation and the New Jersey Health Foundation for the purpose of providing neded health care to the state's most needy now and into the future.

According to New Jersey Health Foundation CEO and vice chairman Dr. George Heinrich, "We were delighted to work with the Robert Wood Johnson Foundation on this project. This endowment will help Chandler Health Center maintain the fiscal stability necessary to provide vital services for patients who have few other health care options."

The project went online in November 2010 as a grant from RWJF and was completed by June 2013, well ahead of its November 2014 completion date. A counterpart USD600,000 was infused by NHJF as well as an additional USD1.5 million to meet the requirements.

The health center is owned and operated by the Rutgers Robert Wood Johnson Medical School in cooperation with the Eric B. Chandler Community Board Inc. The center provides a full range of health care services to those in need, without regard as to ability to pay. About 72% of patients utilizing the service are economically advantaged and live below the federal poverty level.