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May 03, 2023 02:30 PM

University Hospitals CFO to retire, transition plan unveiled

Crain's Cleveland Business
LYDIA COUTRÉ
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    Main Campus CROPPED_1.jpg
    Credit: University Hospitals

    University Hospitals

    Michael Szubski plans to retire from University Hospitals following a 15-year tenure as the system's chief financial officer.

    Pending UH board of directors approval, Bradley Bond — UH vice president of treasury, community medical centers, UH Medical Practices and Ventures finance — is poised to succeed Szubski upon his retirement in January. UH CEO Dr. Cliff Megerian plans to nominate Bond, who joined UH in 2002, for the position, according to a news release. A board vote is expected later this summer.

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    Michael Szubski, left, and Bradley Bond

    Szubski's career in finance spans more than four decades. His time at UH, which began in 2003, has been marked by the system's revenue growth from $1 billion to $5.4 billion, as well as its expanding regional footprint.

    During his tenure, Szubski helped lead several key acquisitions (UH Elyria, UH Parma, UH Portage, UH Samaritan, and UH St. John medical centers) and the integration of Lake Health, according to the release.

    His other accomplishments include negotiating a deal with Medical Mutual of Ohio to add UH Cleveland Medical Center to its coverage plan, expanding care to tens of thousands of people; and spearheading the transition to the Epic electronic health record, including project assessment, benefit analysis and final board approval.

    "Mike has been an extraordinary CFO for UH for the past 15 years who has helped the system grow into one of the largest in the U.S.," Megerian said in a statement. "We thank him for his service and wish him the best as he enters a new chapter in his life."

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    Szubski is one of the longest-serving CFOs in UH history.

    Before UH, he held executive positions at EMH Regional Healthcare System, United Healthcare of Ohio Inc. and Mt. Sinai Medical Center, according to the release.

    Bond manages UH's investments, debt and swap transactions, cash management, leasing contracts, pension and risk management, and tax compliance and research. He also serves as the finance lead for operations involving UH's regional community medical centers, community physician group and UH Ventures.

    A chartered financial analyst and a certified public accountant, Bond received his bachelor's degree in business administration from Ohio State University and an MBA from the Weatherhead School of Management at Case Western Reserve University, according to the release.

    This story first appeared in Crain's Cleveland Business.

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