After learning all about hospital supply buying trends and realizing that he was much more competent than his current employer, McGaw made the decision to leave the company and start his own enterprise.
James D. Vail would eventually join the family business and work for McGaw’s company, the American Hospital Supply Corporation.
When asked about the biggest factor that contributed to his company’s success, he cited their “effort to give more than we get.”[5] McGaw's name lives on after his death: he is recognized for his work in hospital supply through the Foster G. McGaw prize, and is also remembered for his multiple donations to schools in Illinois,[12] especially Northwestern University, where he was on the board of trustees.
[16] The center links the Northwestern University Feinberg School of Medicine to hospitals in Chicago and beyond and places students for their training.
It was built with the intent to hold the entire Northwestern student body, and had partitions, portable bleachers, and a removable basketball floor to allow for many different uses.
It lent its space to the North Shore Music Festival, and the Second Assembly of World Council of Churches, which showcased a convocation address by President Dwight D. Eisenhower.
In 1983 the hall underwent renovations to suit the growing university’s needs, and the interior spaces of the building are now named Welsh-Ryan Arena and the Ronald J. Chinnock Lobby to recognize large contributors to the remodel.
They promote growth in spirit, mind, and body and work closely with the city of Evanston to strengthen the community.