The financially beleaguered St. Vincent Catholic Medical Centers in New York has appointed turnaround expert David Speltz as the system's president and CEO. Tim Weis, Speltz's partner in the firm Speltz & Weis, has been named CFO. The firm has been consulting with the 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 $59 million on $1.7 billion in revenue with most of the losses occurring in the system's hospitals, officials say. Speltz & Weis most recently spent 21/2 years in Syracuse, N.Y., where it helped usher Crouse Hospital out of bankruptcy. The St. Vincent board also appointed Robert Fanning as COO. 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.
In the Spotlight: St. Vincent Catholic Medical Centers
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