In full transparency, the following is a press release from Tenet Healthcare submitted to SOURCE media through its business wire service.
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DALLAS – Tenet Healthcare Corporation announced yesterday, January 19, expects to exceed the midpoint of its latest Fiscal Year 2022 Adjusted Earnings before interest, taxes, depreciation, and amortization (EBITDA) Outlook range included in its third quarter 2022 earnings release along with key leadership updates that will help support long-term business performance.
Although Tenet’s financial statement close process is not yet fully completed, the Company anticipates its Adjusted EBITDA, excluding any fourth quarter stimulus grant income related to the pandemic, will be slightly above the mid-point of its Adjusted EBITDA guidance of $3.425 billion for the year ended December 31, 2022.
“Our business units continued to demonstrate effective management capabilities and delivered strong results in the fourth quarter,” said Saum Sutaria, M.D., Chief Executive Officer of Tenet. “All three of our business units are expected to produce Adjusted EBITDA excluding grant income that was at or slightly above the mid-point of our guidance. We look forward to providing more details in a few weeks along with sharing plans to support a successful 2023.”
Tenet is the owner of MetroWest Medical Center, which includes Framingham Union Hospital in Framingham and Leonard Morse Hospital in Natick.
Tenet yesterday also announced leadership changes and operational organizational changes aligned with the company’s strategic priorities and designed to help ensure continued performance.
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The announcement includes the retirement of Daniel Cancelmi, Executive Vice President & Chief Financial Officer, at the end of 2023.
A national search is ongoing to identify a high performing successor. The successor will be directly mentored and onboarded by Dan as part of the transition process.
“Dan was instrumental in the recent transformation of Tenet’s performance and improvement of the balance sheet,” said Sutaria. “Dan is an inspirational leader with a long legacy at Tenet, starting as a hospital CFO to becoming our corporate CFO. He is a tireless advocate for our people and company. The strength of our finance function at Corporate and across our business units is a testament to Dan’s leadership, operational acumen, and commitment to Tenet.”
The retirement of Brett Brodnax, President & CEO of USPI, at the end of 2023 was also announced.
Additionally, Andy Johnston has returned to USPI as its Chief Administrative Officer to support the evolution of USPI business processes as the company has nearly doubled in scale within the recent years. He is anticipated to be promoted once Brett steps down.
“Brett has not just positively shaped USPI, but the overall ambulatory surgery industry. He will always be a distinguished alumnus of the company and a supporter of USPI’s team, community of doctors, and health system partners,” said Sutaria. “Andy is well positioned to step into the USPI President role – he was previously USPI’s Chief Development Officer and Chief Operating Officer of the East Division. I will personally be spending more time with USPI to advance business goals and support the transition.”
Brodnax has also offered ongoing support in a non-management role after the end of 2023.
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The announcement also included the retirement of Roger Davis, President & CEO of Conifer Health Solutions, at the end of the first quarter 2023.
A national search is in progress.
“Roger’s thoughtful leadership and commitment to client service has supported Conifer’s operational and commercial improvements,” said Sutaria. “I am confident in the team’s ability to continue Conifer’s positive trajectory.”
Furthermore, Deepali Narula has been promoted to Chief Operating Officer of Conifer.
Narula was previously Senior Vice President, HRCM Operations, where she transformed operations and developed new capabilities that enabled several of Conifer’s recent commercial successes.
Bryan Forry has been promoted to Chief Financial Officer of Conifer. Bryan was previously Controller, Hospital Operations and prior to that led performance management innovation, as well as Chief Financial Officer for Tenet’s Arizona operations.
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In addition, the announcement also included the promotions of Maggie Gill, Matthew Stone, and Nicholas Tejeda to Group Presidents of the Company’s hospital segment.
The new operational leadership structure allows for greater agility in execution of strategic priorities within Tenet’s acute care hospital markets and will also enhance consistency in operational management.
Maggie Gill has been promoted to Group President – Eastern Group, overseeing Florida, South Carolina, and Massachusetts hospital operations.
Matthew Stone has been promoted to Group President – Central Group, overseeing Central and South Texas, Alabama, and Tennessee hospital operations.
Nicholas Tejeda has been promoted to Group President – Western Group, overseeing West Texas, Northern California, and Orange County – Los Angeles hospital operations.
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“Tenet has exceptional talent throughout its operational ranks,” said Sutaria. “The Group Presidents have a track record for driving results, developing high performing teams, and enhancing access to care. I am confident in their ability to help lead our hospital segment.”
Tenet Healthcare Corporation is a diversified healthcare services company headquartered in Dallas. Tenet’s delivery network includes United Surgical Partners International, the largest ambulatory platform in the country, which operates or has ownership interests in more than 465 ambulatory surgery centers and surgical hospitals. We also operate 61 acute care and specialty hospitals, approximately 110 other outpatient facilities, a network of leading employed physicians and a global business center in Manila, Philippines.
MetroWest Medical Center