Grady Memorial Hospital Corporation Set To Assume Responsibility for Health System Operations May 20
Triggering First $50 Million Installment

(ATLANTA) — The Grady Memorial Hospital Corporation (GMHC) is set to assume responsibility for the operations of the health system tomorrow, May 20, after presenting the Fulton-DeKalb Hospital Authority (FDHA) a certificate of commencement today.

"Tomorrow begins a new chapter in Grady’s history," said A. D. "Pete" Correll, chairman of the Grady Memorial Hospital Corporation and former chairman of Georgia-Pacific. "The Grady Memorial Hospital Corporation has a singular focus — to preserve Grady’s historic mission as a safety-net hospital for this region by getting Grady the funding it needs. The first infusion is already on its way. And in the weeks and months ahead, we will be calling on the broader community to do its part to rally around this critical resource we all depend on."

The Robert W. Woodruff Foundation has pledged $200 million to Grady over four years for capital needs. The first $50 million installment will be received May 20.

In addition, the Grady Memorial Hospital Corporation has pledged its best efforts to raise another $100 million over four years.

When the lease begins May 20, employees will transfer to the GMHC with their current jobs and salaries, and the GMHC will be responsible for the operations of the health system.