During an announcement in Scarborough Monday afternoon, Ford said the funds will help offset lost revenues in hospital budgets.
“We have seen pressure put on our hospitals like never before. They have been at the centre of the crisis since day one,” Ford said.
Health Minister Christine Elliott said $696 million will address hospital deficits, especially in small and medium facilities.
She also said up to $572 million will go to all hospitals to address lost revenues such as diminished parking fees and reduced money from commercial activities.
Meanwhile, the announcement came on the same day the government reported nearly 1,700 new COVID-19 cases across Ontario and the expansion of vaccine bookings to people 75 and older.
It was also reported more than 1.5 million people have received at least one dose of one of the four approved COVID-19 vaccines.