Meharry Medical College has a new partnership with a giant in the medical device space.
Abbott Laboratories will give $5 million to fund nearly 300 scholarships over the next five years at four historically Black medical schools, including Meharry, according to a news release.
The scholarships are part of a larger initiative by the Illinois-based company to create a more diverse and inclusive clinical trial ecosystem, according to the release.
The need for more Black doctors and medical professionals has gained attention over the last two years, as the Covid-19 pandemic shown a spotlight on longstanding health inequities for Black communities.
Last year, former New York City Mayor Michael Bloomberg’s Bloomberg Philanthropies’ Greenwood Initiative gave $100 million toward tuition at four historically Black medical schools, including $34 million to Meharry.
Meharry is the nation’s largest private, historically Black academic health sciences school, with an enrollment of 939 students in 2020, according to Nashville Business Journal research.
“The majority of our students come from underrepresented communities,” Dr. Digna Forbes, interim dean at Meharry’s School of Medicine, said in the release.“These scholarships will allow them to follow their heart and practice in a primary care career of their choice, while helping Meharry retain the best candidates.”
In addition to scholarships, Abbott has formed a new Diversity in Research Medical Advisory Board to provide guidance on how to increase diversity in the company’s clinical trials, according to the release, while increasing funding to reach that goal. The company will also convene industry experts and patient advocates to publish any learnings from Abbott’s efforts to increase diversity in its clinical trials.
Abbott — which produces diagnostics, medical devices and branded generic medicines — reported $34.6 billion of revenue in 2020, according to a news release, and employs 109,000 people across 160 countries.
“The best health care product is a product that helps the most people, providing the greatest benefit. As an industry, we need to set new standards to make sure that our clinical trials remain representative of the people our products are designed to help,” Robert Ford, Abbott president and CEO, said in the release. “We want to continue to break down both existing and emerging barriers to participation in clinical trials so we can help more people have greater access to therapies that have the potential to change lives.”
This article was first published by bizjournals.com
