The school has been around for 44 years and is not expected to make loan and insurance payments on the $43 million borrowed to build a state of the art school that opened last month. Hopefully the new board will come up with some answers and you will see some pretty powerful folks on the board from big healthcare organizations such as Kaiser Permanente, Cedar Sinai and UCLA Medical. The school divorced itself from the Martin Luther King hospital a number of years ago. BD
Top leaders at prominent universities, hospitals and a foundation are taking control of the governing board of the beleaguered Charles R. Drew University of Medicine and Science, stepping in to try to rescue the South Los Angeles school from financial disaster.
The action Friday came after the existing board of trustees resigned en masse, appointed replacements and created a new advisory board for the 44-year-old school, founded to train physicians for underserved minority communities.
The school is at risk of seizure because it was not expected to make loan and insurance payments on $43 million borrowed to build a state-of-the-art nursing school, which opened last month.