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Grady Memorial Hospital
Grady gets first infusion of $50 millionPublished 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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