Community Health Systems on Friday tapped Thomas Miller as chief executive officer of Quorum Health, the planned spinoff of 38 small and rural hospitals in 16 states.
In its latest filing with the Securities and Exchange Commission, the Franklin, Tenn.-based CHS revealed Miller will be running a $2.1 billion operation with earnings before taxes and depreciation of $265 million in its most recent year. Miller previously ran CHS' operations in Indiana, New Jersey, Ohio and Pennsylvania.
CHS last month reported net income of $111 million on $4.8 billion in revenue during the quarter ended June 30, compared with a net loss of $42 million on $4.7 billion in revenue in the prior-year period. For all of 2014, CHS reported $203 million income on $17.5 billion in total revenue.
Miller “is an entrepreneur at heart who has led the successful integration of some of our most significant hospital acquisitions,” CHS CEO Wayne T. Smith said in a statement. The new company will also take over CHS' consulting arm.
Michael J. Culotta, who currently serves as vice president of investor relations for CHS, will become chief financial officer for Quorum Health. The new organization's 38 hospitals will have a total of 3,587 beds.
