Ascension CEO Anthony Tersigni will retire at the end of the year, the Catholic health system announced Thursday.
Tersigni, who will have led Ascension for more than 15 years when he retires, will continue to serve on the executive committee of Ascension's healthcare investment fund and help guide the 151-hospital system on a consulting basis. The board has begun a formal process to find his successor.
Ascension announced in January that it was splitting the title of president and CEO of the organization and unifying its "healthcare" and "solutions" divisions, resulting in a leadership restructuring and the departure of three top executives. Joe Impicciche became Ascension's president, leaving Tersigni with only the CEO title.
Under Tersigni's tenure, Ascension shifted its strategic direction from hospital operations to its urgent-care, post-acute and telemedicine businesses as well as its ancillary ventures. Ascension will continue to use its health system as a testing ground for some of its investment, consulting, revenue-cycle management, group purchasing, facilities management, risk management, leadership, physician practice oversight, venture capital and automation arms that Ascension looks to commercialize in the U.S. and abroad.
Tersigni also spearheaded Ascension's campaign to attract veterans to private care providers and launched an advertising and marketing campaign to rebrand all of its hospitals. Tersigni also became heavily involved with the Vatican during his tenure, responding to Pope Francis' call to focus on the poor.
In 2018, Tersigni was on the short list of those being considered as secretary of the Veterans Affairs Department.
Tersigni received $13.8 million in reportable compensation in 2016, according to Ascension's IRS Form 990 posted on GuideStar.com.
Ascension's operating income fell 81% from fiscal 2017 to 2018, from $552.7 million on $22.71 billion in total operating revenue to $104.8 million on $23.16 billion in operating revenue, according to Ascension's year-end financial report.