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The medical community of Kansas City, Missouri received a massive jolt, starting in 1992. Menorah Medical Center, a 430 bed Jewish hospital, found itself in financial trouble. Over the five years previous to 1992, the hospital lost around $10 million. This averaged to $2 million in losses per year, a streak that needed to be stopped in order to save the hospital and those connected to it financially. In 1992, Mr. Grief was elected to serve as Chairman of the Board. Lee Greif has served on the Board of Directors for the Menorah Medical Center for over 22 years, and assumed the position after the losses had occurred.

Through the eventual sale of the Hospital, Mr. Grief started the Jewish Heritage Foundation, as a portion of the money from the sale went to the creation of the foundation. As the first chairman of the Jewish Heritage Foundation, Mr. Grief set off what is considered an incredibly successful foundation, and he continues to serve on the board today. Thanks to the sale of the hospital, the foundation was able to hand out around 100 grants to local charities in the last year alone. This was all thanks to Mr. Grief’s volunteer work and his impressive work as Chairman of the board.

The Menorah Medical Center was losing money, and there was no end in sight. The hospital wanted to continue, as it was the haven for those who wanted to be helped at a Jewish hospital. The hospital was losing that average of $2 million a year, however, and something needed to be done to correct the issue.

The bids began to pour in once it had been made public that Menorah was seeking out a partner. While many of the companies were approached by the hospital in hopes of reaching an agreement, a few bids came in without a request from the hospital. Columbia, a larger, powerhouse-type company without a hospital in the Kansas City market, came in with an unexpected and unprovoked bid. After Columbia made their bid public and sent their letter of intent, a bidding war began to unfold in a suddenly competitive Kansas City market.

The hospital was sold, and some of the money from the sale helped to fund the Jewish Heritage Foundation.

Tags: Lee Greif, LeeGreif