Steven A. Cohen Pledges $275 Million for Veterans' Mental Health Care

Steven A. Cohen Pledges $275 Million for Veterans' Mental Health Care

Billionaire hedge fund investor Steven A. Cohen has pledged $275 million to create a national network of free mental health clinics for military veterans and their families, reports.

The will seek to open twenty-five clinics serving a total of more than twenty-five thousand patients annually by 2020, said Anthony Hassan, the network's executive director. Four clinics will open by the end of the year, including NYU Langone's , which the helped underwrite in 2013 and which will serve as a model for the network's clinics. Facilities in San Antonio and Addison, Texas, will open later this spring in partnership with and , respectively, while others will open later in the year at the and the .

Cohen, whose son was deployed to Afghanistan in 2010, began supporting veterans' mental health initiatives in 2011 while serving on the board of the . He also supports , which works to accelerate the development of biomarker tests and drug-based therapies for post-traumatic stress and traumatic brain injury.

"Half of all Iraq and Afghanistan veterans say they know a fellow veteran who attempted or committed suicide. Half!" said Cohen in remarks prepared for a fundraiser in support of the . "After 9/11, our veterans rushed to protect us. Now it is our turn to protect them."

Amanda L. Gordon. "." Bloomberg 04/06/2016.