NEW YORK –The Primary Care Development Corporation (PCDC) is pleased to announce that it has received a $1.75 million award from the U.S. Department of the Treasury’s Community Development Financial Institution (CDFI) Program. PCDC is proud to be among the 158 CDFIs to receive $170.2 million through the CDFI Program and is the only organization among the awardees exclusively focused on health care.
PCDC will leverage the newly awarded capital to provide direct investments to primary care providers serving low-income communities that will support transformation in anticipation of impending delivery system and payment reform. In particular, PCDC will provide flexible capital to support critical transformation investments by community health centers and other providers.
“PCDC is committed to helping primary care providers in underserved communities deliver the highest quality care in a rapidly evolving health care environment,” said Anne Dyjak, PCDC Managing Director. “Our goal through these investments is to provide access to resources that ultimately improve the well-being of people living in these communities to help them succeed.”
The CDFI Program received 457 requests for $675 million in the FY 2016 round from organizations seeking to increase investment in economically distressed communities nationwide.
Ms. Dyjak continued: “PCDC appreciates this critically important support from the CDFI Fund and congratulates our CDFI partner awardees.”
Founded in 1993, the Primary Care Development Corporation is a nationally recognized nonprofit organization that catalyzes excellence in primary care through strategic community investment, capacity building, and policy initiatives to achieve health equity. To date, PCDC has helped over 1,000 primary care practices in 34 states to improve delivery of care by providing capital as well as training and technical assistance services. Since its founding, PCDC has leveraged over $800 million on projects that enhance capacity in low-income communities. In 2016, PCDC received a AAA+2 rating from Aeris, an independent community investment rating agency.
Community development financial institutions (CDFI) provide credit and financial services to underserved markets and populations. CDFIs are certified by the Community Development Financial Institutions Fund (CDFI Fund) of the U.S. Department of the Treasury.