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Hedge fund giant to give $275M for veterans health care

Steve Cohen of Point72 Asset Management, formerly known as SAC Capital Advisors, launched a nonprofit Wednesday that aims to treat mental health issues among U.S. veterans.

The Cohen Veterans Network will be opening between 20 and 25 clinics across the U.S. over the next three to five years, an effort that will cost Cohen $275 million.

"The wounds of war are serious. It is not easy to serve your country in combat overseas and then come back into society seamlessly, especially if you are suffering," Cohen said in a statement. "These men and women have paid an incredible price and it's important that this country pays back that debt."

The multimillion-dollar effort aims to treat veterans who suffer from post-traumatic stress disorder and other mental health issues for free.

"We are launching this network to provide veterans with a real choice as they transition home. We are offering free, confidential mental health care, with no wait times, not only to veterans but to their family members as well," Anthony Hassan, executive director of the Cohen Veterans Network, said in a statement.