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Grady Hospital Gets $50 Million Boost
POSTED: 8:16 am EDT May 20,
2008
UPDATED: 8:17 am EDT May 20,
2008
ATLANTA -- Grady Memorial Hospital is getting its first cash infusion of $50 million as a new nonprofit board takes over operations of Georgia's largest public hospital.The first installment comes Tuesday from the Robert W. Woodruff Foundation, which has pledged $200 million to Grady over four years.The Grady Memorial Hospital Corporation, which was formed with the help of Atlanta business leaders to bolster the struggling 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.
Copyright 2008 by cbs46.com. The Associated Press contributed to this report. All rights reserved.
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