The race is on to save Seattle Grace! The place is hemorrhaging workers. There are too many surgeries and not enough staff. Even Bailey is going on job interviews until Owen convinces her to hang in there. After all, she's the heart of the hospital. Stan the financial man sets up a meeting with a billionaire named Julian Crest. Cristina, Meredith, Derek, Callie and Arizona make a case to his underlings as to why Crest should invest. Their pitch is impressive enough to warrant a 15-minute meeting with the big guy. Woo hoo!
Bailey takes over one of Meredith's patients who will likely die. Her heart breaks when the sick woman's daughter cries that her mommy won't wake up. Heather mentions an article that could save the patient. She hears about it from Meredith, who has been keeping tabs on things through her mousey mole. In other news, Owen is thrilled when Alana gives him the news that Pegasus Horizons is going to buy the hospital. What she doesn't mention is the fact that the place is then going to be liquidated.
Eavesdropping Heather relays the Pegasus Horizons scoop to Meredith. She also blabs to Bailey and her intern pals. Catherine Avery wants her son to come back to Boston before Pegasus takes over the hospital. Jackson is reluctantly considering this option. This bums out Stephanie, who has fallen hard for him. Jackson changes his tune somewhat when he learns from Richard that the docs who quit are planning something big. But will they be able to come through in time?
Alex plans on cutting Phil out of the body of his young patient, Bobby. Phil, by the way, is the name that's been given to the boy's tumor. Alex promises to yank out Phil and put him through a meat grinder. Bobby thinks this sounds totally cool. Jo realizes that she'll truly miss working at Seattle Grace if it goes under. She can get a job anywhere, but she'll never find a teacher like the one she has now. Alex tries to comfort his teary intern, but he still isn't quite sure how to act around Jo.
Owen mentions the Pegasus Horizons deal during a surgery. Shane thinks he's lying about the fact that the hospital won't be sold for parts and layoffs are on the way. April realizes Owen didn't know about the plan. He also doesn't know about the other attempt to save the hospital. Cristina finally clues him in. Meredith also gives Richard the scoop. She rushes him off to meet with Crest to prove that they have an administrative mind as part of their team. Richard and Derek make one last pitch during the billionaire's helicopter ride to the airport.
Owen bursts into a board meeting to convince them to hold off on the Pegasus deal for a day. It's a risk. If the Pegasus deal goes away again, it won't come back. The board agrees to wait, but the news from Derek and Richard is devastating. The billionaire isn't feeling good about investing in the hospital. He's not going to save them. It's a punch in the gut to everyone. The only bright news of the moment is that the article Meredith mentioned helps Bailey save her patient. The little girl's mom finally wakes up.
Cristina and Owen give Alex the details of all that's happening over some 40-year-old scotch. Derek and Meredith write letters of recommendations for their interns. Catherine wonders how much money was needed to buy the hospital. She assembles all interested parties to make a grand announcement. The Harper Avery Foundation is investing in Seattle Grace. Everyone is stunned and thrilled. Then they're just stunned, as Catherine announces that her son will be the board's representative. In other words, Jackson is now in charge.