Grady gets first infusion of $50 million

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Grady Memorial Hospital

Grady gets first infusion of $50 million

By Associated Press
Published on: 05/19/08

Grady Memorial Hospital in Atlanta is getting its first cash infusion of $50 million as a new nonprofit board takes over responsibility for operations of Georgia's largest public hospital.

The first installment Tuesday comes from the Robert W. Woodruff Foundation, which has pledged $200 million to Grady over four years.

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The Grady Memorial Hospital Corporation, which was formed with the help of Atlanta business leaders to bolster the cash-strapped hospital, takes over for the Fulton-DeKalb Hospital Authority.

Grady has struggled financially for years and recently reached a crisis point because of rising health care costs, dwindling government aid, a lack of paying customers and years of neglect.

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