Who: Michael Wiechart, 48
Promoted to: President and CEO of Capella Healthcare, a Franklin, Tenn.-based investor-owned hospital chain.
Capella's new No. 1
Currently: Senior VP and COO since 2009.
Replacing: Dan Slipkovich, who co-founded the company in 2005 with funding from private equity firm GTCR and will remain executive board chairman.
Previous roles: Wiechart is a co-founder of LifePoint Hospitals, a Brentwood, Tenn.-based chain, where he served as senior VP and group president. He also spent time at for-profit HCA, Nashville, where he held CFO roles at a number of hospitals.
Why now: “As we've evaluated priorities, this is really about refocusing our talents and resources. We really want to be in a position to take advantage of the manpower and resources out there.”
On the hunt for deals: “You will see us move a little more aggressively seeking opportunities for external growth,” Wiechart said, citing acquisitions and partnerships, particularly in its current markets.
No plans for a sale: “Our goal around the leadership change has nothing to do with that speculation and is really about growth of the company. There are no plans for the sale of the company at this time.”
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