The financially beleaguered St. Vincent Catholic Medical Centers has appointed turnaround expert David Speltz as the system's president and chief executive officer. Tim Weis, Speltz's partner in the firm Speltz & Weis, has been named chief financial officer. The firm has been consulting the New York system since January. Speltz succeeds David Campbell, who stepped aside in January amidst mounting losses. The nine-hospital system, which was created in 2000, ended 2003 with a projected bottom-line loss of approximately $59 million on $1.7 billion in revenue with most of the losses occurring in the system's hospitals, officials said. Speltz & Weis most recently spent 2 1/2 years in Syracuse, N.Y., where it helped usher Crouse Hospital out of bankruptcy. The St. Vincent board also appointed Robert Fanning as the chief operating officer. Fanning was president and CEO of Beverly (Mass.) Hospital. He has spent the past four years as a key executive in some turnaround projects for Speltz & Weis. -- by Cinda Becker
St. Vincent names new CEO, CFO
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