DETROIT--(BUSINESS WIRE)--Detroit Medical Center (DMC) and the Legacy DMC Board, which is responsible for overseeing the capital investment commitments in connection with the purchase of the hospital system, have reached a resolution to allocate an additional $2.3 million to further benefit patient care at DMC’s Sinai Grace and Detroit Receiving Hospitals.
The funds are in addition to $850 million capital investment commitments pledged in 2010 when the DMC transitioned to an investor-owned organization, first as part of Vanguard Health Systems and, today, as part of Tenet Healthcare. While DMC exceeded the original capital commitment in 2017, this month DMC and Legacy DMC agreed to allocate an additional $2.3 million which was billed as interest on the late payment of required funds.
Physicians serving as trustees on the Legacy DMC Board worked to identify desired emergency, surgical and neurological equipment items at DMC’s two safety-net hospitals, Detroit Receiving and Sinai-Grace. Legacy DMC then crafted a proposal outlining the costs for nearly 60 items totaling $2.3 million that could be purchased on an expedited timeline. This proposal was unanimously agreed to by all parties. Today, the majority of those items are purchased and in use at the two hospitals.
“Our commitment to Detroit’s residents has never wavered and has never been stronger. These latest expenditures are directly focused on front-line patient care, benefiting the patients who entrust their care to us and the dedicated surgeons and health teams who care for them as well as the communities we serve,” says Anthony Tedeschi, DMC CEO.
“Our board is pleased with the results of the capital projects completed at the various DMC facilities,” says Joe Walsh, Legacy DMC President. “The goal from the beginning was to ensure quality, accessible health care for all of Detroit’s residents, including indigent and at-risk populations. That’s a fundamental part of DMC’s mission. The system has upheld and met that goal and their financial commitments under the Legacy covenants in regards to the five-year capital expenditure.”
About the Detroit Medical Center, www.dmc.org
The Detroit Medical Center operates eight hospitals and institutes, including Children’s Hospital of Michigan, Detroit Receiving Hospital, Harper University Hospital, Huron Valley-Sinai Hospital, Hutzel Women’s Hospital, Rehabilitation Institute of Michigan, Sinai-Grace Hospital, and DMC Heart Hospital. The Detroit Medical Center is a leading regional health care system with a mission of excellence in clinical care, research and medical education. The Detroit Medical Center is proud to be the Official Healthcare Services Provider of the Detroit Tigers, Detroit Red Wings and Detroit Pistons.