Robert Regan, M.D., is retiring as president and chief executive officer of Prince William Health System in Manassas, Va., after the organization failed to sell its flagship hospital to a for-profit company.
Regan, 62, who served in his current position for five years, said he is stepping down because it is "an appropriate time for new leadership."
In January, Prince William agreed to sell its 131-bed flagship hospital in Manassas to for-profit King of Prussia, Pa.-based Universal Health Services for $105 million. In March, a regional review board opposed the sale, citing a report that said the system was financially healthy and faced no threats from managed-care plans. One month later, the system's board of directors voted to remain an independent not-for-profit.
Regan's retirement is effective at the end of this year.