Tenet Healthcare is replacing and promoting several members of its leadership and operations team, including its chief financial officer, the Dallas-based for-profit hospital operator said Thursday.
Tenet announced that Daniel Cancelmi, who serves as executive vice president and CFO, will retire from his role at the end of the year. Tenet will be launching a national search to find a replacement, promising that the new CFO will be “directly mentored and onboarded” by Cancelmi, who originally joined Tenet’s corporate offices in 1999.
Tenet also announced several other operational team changes in the statement, including team adjustments in its USPI and Conifer subsidiaries.
The role changes come a year after the system’s previous COO, Saum Sutaria, was promoted to CEO following the retirement of Tenet chief executive Ron Rittenmeyer in August 2021. Rittenmeyer was responsible for ushering in a number of changes for the hospital operator during his four-year tenure, including its $1 billion acquisition of surgical center operator USPI, before his death at 75 in October 2022.
USPI’s president and CEO, Brett Brodnax, will retire at the end of this year, with the anticipation that Andy Johnston, UPSI’s chief administration officer, will be promoted to the leadership role once Brodnax steps down.
Leadership changes at Conifer, Tener’s revenue cycle management unit, are also in the works.
The unit’s president and CEO, Roger Davis, will step down at the end of the first quarter. A national search for a successor is “in progress,” the system said.
Deepali Narula has been promoted to chief operating officer of the unit. Additionally, Maggie Gill, Matthew Stone and NIcholas Tejeda will be promoted to presidents of the company’s hospital segment.
Tenet had originally planned to spin-out Conifer in 2019, but scrapped the plans in March 2022 after the unit’s financial expectations improved.
The company also said Thursday it anticipates surpassing the midpoint of its adjusted EBITDA outlook range for 2022. The operator now expects adjusted EBITDA for the full year to be $3.425 billion, slightly above the midpoint of its guidance of $3.375 billion to $3.475 billion.
The announcement comes after Tenet lowered full-year guidance slightly in the third quarter, after its net income fell 71% year over year. The system reported lowered admissions and continued fallout from a cyberattack it suffered in April 2022.
Tenet will report fourth-quarter earnings results Feb. 9.