Calvert Giving Fund
MSN Money
May 5, 2009
Bon Secours Health System Invests $1.6M in Calvert Social Investment Foundation
Bon Secours Health System Inc., one of the largest Catholic health systems in the U.S., invested $1.6 million in Calvert Social Investment Foundation.
The $2.6 billion health care system, which employs more than 20,000 people in seven states, is seeking to help several communities where they have a strong presence, including Baltimore, New York City, and Richmond.
Bethesda-based Calvert works with investors to provide affordable credit to impoverished communities.
“We were looking for a way to make a difference in these difficult times, and still make smart decisions with our own assets,” said Richard Statuto, president and CEO of BSHSI. “Access to credit is critical in today’s economic environment, and this investment allows us to preserve capital and receive a modest return while accomplishing our social mission.”
BSHSI made the investment through Calvert’s community investment notes, which allow investors to finance affordable housing, micro-finance loans and small businesses.
Last year, Calvert raised $42 million in additional investments due to a 33 percent rise in sales of its community investment notes.
The Marriottsville, Md.-based health system owns, manages, or joint ventures 18 acute-care hospitals, one psychiatric hospital, five nursing care facilities, five assisted living facilities, and 15 home care and hospice programs.
