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April 08, 2008

Woodruff Foundation Awards $200-Million to Atlanta Hospital

The Robert W. Woodruff Foundation, in Atlanta, has been revealed as the source of a $200-million grant to the city’s Grady Memorial Hospital, reports The Atlanta Journal-Constitution.

The grant was a key factor during months of negotiations to transfer management of the hospital from the Fulton-DeKalb Hospital Authority to the nonprofit Grady Memorial Hospital Corporation.

The donor had remained anonymous since last year, when the Metro Atlanta Chamber of Commerce first recommended the management transfer and used the prospect of the donation as incentive.

The hospital has sunk into debt over the past decade because of rising health-care costs, decreasing government support, a lack of paying customers, and years of neglect, the newspaper said.

The hospital had accumulated $55-million worth of debt at the end of last fiscal year.