HCA subsidiary Parallon's O'Boyle out as president, CEO

Who: Michael O'Boyle

Was: President and CEO of Parallon Business Solutions, a subsidiary of for-profit hospital operator HCA, since January 2012. He previously was president of UnitedHealth Networks and COO of the Cleveland Clinic.

Now: HCA President and CFO R. Milton Johnson said in a Oct. 30 memo to staff that the company “decided to make a change in leadership direction” and O'Boyle “will be leaving the company.”

Why? A Parallon spokeswoman declined to elaborate on the shakeup and deferred to the memo.

What now: Parallon CFO Chris Taylor is serving as interim CEO while the company conducts a search for a replacement. Taylor joined Parallon in October 2012 from HCA's Brentwood, Tenn.-based TriStar Health.

Outlook: Parallon, made up of several businesses that sell services such as group purchasing and revenue-cycle management to healthcare providers, recently paid $278 million to acquire the Outsource Group, a St. Louis-based revenue-cycle management firm.

“Parallon is a key component to HCA's success and to our future growth strategy,” Johnson said in the memo.

During a call with analysts to discuss the company's earnings, he said the Parallon business is “performing well” and is expected to grow.