76ers’ Josh and Marjorie Harris invest $1 million in Penn Medicine – Wharton Fund for Health

Penn Medicine on November 13, 2021. Credit: Riley Guggenhime

The Penn Medicine – Wharton Fund for Health will receive a $1 million investment from Harris Philanthropies, a nonprofit founded by Josh Harris, a 1986 Wharton graduate and Philadelphia 76ers managing partner, and his wife Majorie Harris.

First announced in August 2021, the Health Fund is a collaboration between Penn Med and the Wharton Social Impact Initiative. This fund invests in companies that attempt to improve social support systems surrounding the health and well-being of economically disadvantaged Philadelphians. The fund has committed to investing $5 million over three years.

Harris Philanthropies aims to support initiatives that strengthen the community by providing grants and investments that help at-risk youth, promote health and wellness, and foster community growth.

To date, the Health Fund has invested $850,000 in four companies: Kinvolved, software that helps school systems improve family engagement and attendance; Lula, an all-in-one delivery solution for local family businesses; Uptrust, software that helps people stay out of the criminal justice system; and RecoveryLink, a peer-to-peer recovery support platform.

The investment is the latest continuation of Harris Philanthropies’ work with Penn Med, after working with Sixers Co-Managing Partner David Blitzer and Sixers All-Star Joel Embiid to provide $1.3 million to distribute COVID antibody tests -19 to healthcare workers in Philadelphia during the early stages of the 2020 COVID-19 pandemic.

“We are excited to continue to partner with Penn Medicine through the Fund for Health to improve the health of communities in Philadelphia, especially underserved communities that may not have access to the same resources,” said Josh Harris in the Penn Med press release. “The goal of this initiative is to invest in innovative companies that directly tackle the issues that drive health inequities and support them as they evolve.”

Research from Penn Medicine’s 2019 Community Health Needs Assessment Report indicated that in Philadelphia County, more than 25% of residents live in poverty, 20% face food insecurity, and nearly 15% of its inhabitants are not insured.

Kevin Mahoney, CEO of Penn Med, said that “addressing long-standing systemic issues requires a creative approach and diverse expertise – two factors that were at the root of [the] creation of the Health Fund.

Mahoney expressed his gratitude to Harris Philanthropies, which shares the Health Fund’s mission to target health inequities.

“[Fund for Health] can have an even greater impact when like-minded collaborators [its] also decide, after their own due diligence, to make follow-on investments,” Mahoney told Penn Med. “I am thrilled that Josh and Marjorie Harris are joining forces with us in this way to propel our vision to improve the social determinants of health in our city. »

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