New York-based Montefiore Medicine's board of trustees has appointed Dr. Philip O. Ozuah as the new CEO of Montefiore Medicine, the parent organization of Montefiore Health System and the Albert Einstein College of Medicine.
Ozuah will replace Dr. Steven Safyer, who has led Montefiore Medicine as president and CEO since 2008 and spent 40 years with the system. Ozuah will take the helm on November 15 and has worked at Montefiore for 30 years.
The incoming CEO currently serves as president of Montefiore Health System. Ozuah was formerly the physician-in-chief of the Children's Hospital at Montefiore.
"We are thrilled Dr. Philip Ozuah, a proven senior executive and strong strategic thinker, will lead Montefiore into the next decade," said Dan Tishman, chair of Montefiore's board of trustees. "What stood out was his impressive record of success at (Montefiore Health System), his intellect and warmth as a physician, his strength as a leader and manager and his deep commitment to Montefiore's mission."
Montefiore Medicine is one of the largest healthcare organizations in the country. Montefiore Health System started expanding aggressively in 2013 and now includes more than ten hospitals and over 200 primary and specialty care sites. Montefiore Medicine also consists of the Montefiore School of Nursing and the Albert Einstein College of Medicine.
Montefiore drew $53.5 million in operating income on $5.9 billion in operating revenue in the health system's fiscal 2018, which ended Dec. 31, compared with $55.3 million in operating income on $5.5 billion in operating revenue in the prior year, according to Modern Healthcare's financial database. Montefiore's operating margin was slim in both years, but declined slightly to 0.9% in fiscal 2018.
The system's net income improved 27% year-over-year, rounding out 2018 at $121 million.