The Menninger Clinic, Topeka, Kan., struck a deal with the state attorney general to create a charitable foundation that will provide mental health services to indigent patients after the famed psychiatric clinic moves to Houston next month. Under terms of the agreement, the foundation will own about $3.5 million worth of buildings on Menninger's main Topeka campus, 123 acres of undeveloped land west of the campus and a 50% interest in remaining Menninger property valued at $18 million to $25 million. The Menninger Clinic, its foundation and a related endowment that supports education and research are estimated to have about $200 million in assets. In Texas, the clinic will form a partnership with the Baylor College of Medicine and Methodist Hospital. -- by Michael Romano
Menninger Clinic, Kan. reach terms of separation
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