The Fulton County (Ga.) Board of Commissioners is giving the ailing Grady Health System
a shot in the arm with a $15 million cash infusion, but a long-term plan to keep the
hospital from shutting its doors remains unclear.
Grady officials are appreciative of the boards decision, but are hopeful that its
request for a $100 million loan will still come through, said Otis Story, Gradys chief
executive officer. The $15 million gift will be used to cover payroll and other working
capital expenses and can keep the hospital going for two to three months, Story said.
The financially strapped hospital system says it will have to close permanently by year-end as it faces a $120 million deficit. A recent report by the area chamber of commerce
recommended that the Grady board hand over control of the hospital to a not-for-profit
organizationa sentiment echoed by the Fulton County commissioners in giving Grady the gift.
However, Gradys board is hoping that Fulton and DeKalb countieswhich share oversight of
Gradywill back its proposed $100 million loan to allow the board more time in fixing its
finances. Several lending institutions are in place to provide the loan if the counties
agree to back it, Story said.
Jessica Corbitt, a Fulton County spokeswoman, said the commissioners have not acted yet on
the loan proposal. -- by Jean
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