When the community gave Memorial Hospital of Garland to Baylor, what was it worth?
GDB: Our net asset value at that time was around $11 million. We had about $4 million in cash in the bank. WCR: Baylor Health Care System didn’t put a nickel into it. GDB: What they did put into it was an agreement with Boone Powell, Jr., who said, Baylor will support whatever development the community will support. Whether the money would come out of the Garland funds or the Baylor funds was never discussed. Baylor would see to it that it’s done. Everyone at Garland felt that Baylor would be a good steward of the hospital’s development. WCR: That connection has been a win-win situation for both institutions. GDB: Yes. It’s been great. During the first 5 years of our relationship with Baylor, we added 88 new physicians to the medical staff. The population was growing, and we started building the momentum around the medical community. We started putting in new services, expanding our facility. It has been good for Garland and the Baylor Health Care System. Garland has always generated e
