Grady Makes Last-Minute Bid For Southern Regional
Grady Memorial Hospital Corporation wants to expand.
It’s made a last minute bid to take over Southern Regional Medical Center, which is in bankruptcy.
Grady will be competing against California-based Prime Healthcare in an auction scheduled for next week.
Prime’s bid is valued at $18 million, compared to $20 million from Grady.
John Haupert, CEO of Grady Health Systems, says the organization has the money to make the move, even though it was struggling itself just a few years ago.
“Grady hasn’t had significant financial issues like it had in 2007 and 2008 since Grady Memorial Hospital Corporation stepped in and started running it,” he said.
Haupert says none of the funds for the takeover would come from county money. “We have created enough other income to be able to afford taking over the lease on Southern Regional,” he said.
Fulton and DeKalb counties pay Grady to care for uninsured patients, but Haupert says it’s unlikely Grady would ask Clayton County to do the same.
Before the auction scheduled for next week, Grady’s bid must be approved by its board of directors.
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