Merck will pay $1 billion to create a new fund to help vets and students get jobs, the pharmaceutical giant said in a statement on Thursday.
The fund will focus on training vets to provide care for people with special needs, such as cancer, diabetes, heart disease and neurological disorders, the statement said.
Merck will invest in the fund in two categories: inpatient care and inpatient services, it said.
The company will be investing in two companies that have the ability to grow into large-scale health care businesses.
One is Merck’s cancer center in Atlanta and the other is the largest medical device company in the United States, according to the statement.
The $1 million fund will be invested in merck-branded medical equipment, Merck-brand medicines, medical supplies and biotechnology, the company said.