J. Knox Singleton, the longtime CEO of the Northern Virginia-based health system Inova, announced Friday he will be retiring July 1, 2018.
Singleton, 69, said in a press release that he decided to depart from Inova to focus on "personal priorities of social entrepreneurship and healthcare technology." He also wanted to spend more time with his family. A successor has not yet been named.
Singleton has been at the helm of the system for 35 years. Under his tenure, Inova's revenue ballooned from $500 million to $3.3 billion. He grew the organization from three hospitals to five, added an insurance arm and more than 100 ambulatory service locations. The number of employees at Inova also skyrocketed from 1,000 to 17,000, making it one of the largest employers in Virginia.
Singleton was recently focused on bolstering Inova's position nationally in precision medicine and cancer research. In 2015, Inova announced plans to build the Inova Center for Personalized Health, which will be built on a site previously held by Exxon Mobil. Inova acquired the 117-acre campus for $180 million, according to the Washington Business Journal.
The Falls Church, Va.-based system also announced in 2016 it would provide over $100 million in venture capital over the next several years to support precision medicine companies.
Also in 2016, Inova launched a partnership with the University of Virginia to collaborate on research, medical education and the recruitment of researchers and scientists.
"After 35 years, I want to pass the baton to the kind of innovative, inspirational leader who will take Inova from national to global prominence," Singleton said in a statement.
