The funds have been held by the non-profit DMC — now known as Legacy DMC — since the sale of the Children’s Hospital and other DMC facilities to for-profit Vanguard Health Systems in Dec. 2010. The CHM Foundation will now work with Legacy DMC on an orderly transfer of these funds to the foundation.
CHM Foundation is a charitable organization focused on raising philanthropic support for pediatric medical education, pediatric-focused research and prevention of childhood diseases and injuries and child advocacy efforts.
Read the CHM Foundation news release about the transfer of charitable gifts from DMC (pdf).
Related Articles on Legacy DMC:
Vanguard Health Systems’ Profit Up Sharply With DMC Acquisition
Detroit Medical Center to Assess Distribution of $150M of Charitable Assets After Sale to Vanguard
Vanguard Doesn’t Plan Major Change of Leadership for Detroit Medical Center
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