Surgery Partners brings on another Anthem exec as chief strategy and transformation officer, interim CFO: 5 things to know

Surgery Partners appointed R. David Kretschmer chief strategy and transformation officer as well as interim CFO.

"2018 will be a transformative year for our company, and we are excited to add David to our leadership team," said CEO Wayne DeVeydt. "David brings unique experience, perspective and motivation to Surgery Partners, along with a strong financial background and a history of generating superior results."

Here are five things to know:

1. Prior to joining Surgery Partners, Mr. Kretschmer was senior vice president of treasury and corporate strategy at Anthem. He spent more than 25 yeas of his career at Anthem, holding various leadership roles and eventually managing Anthem's $24 billion investment portfolio. Mr. DeVeydt, also a former Anthem executive, joined Surgery Partners as CEO Jan. 5.

2. Mr. Kretschmer has experience in treasury and corporate finance, enterprise risk management and corporate strategy and development, as well as cash collections and disbursements. 

3. Mr. Kretschmer will take on the role of interim CFO in the near term, replacing Teresa Sparks, who stepped down to pursue other opportunities. She spent a combined 20 years with Symbion and Surgery Partners, leading the legacy company Symbion after Surgery Partners acquired the firm. Surgery Partners retained Russell Reynolds, an executive search firm, to support efforts to appoint a permanent CFO.

4. Ms. Sparks will continue to support Mr. Kretschmer and the transition of the finance and investor relations functions, and consult with Surgery Partners for six months until a permanent CFO is identified.

5. In tandem with announcing the leadership moves, Surgery Partners reaffirmed guidance for 2017 revenue of $1.3 billion to $1.33 billion. The company currently has 180 locations in 32 states, including ASCs and surgical hospitals.

More articles on surgery centers:
3 surgery centers, hospital compete for NC CON—5 things to know
11 statistics on GI net revenue per case at ASCs
19 ASCs posting prices online

 

© Copyright ASC COMMUNICATIONS 2018. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.

 

Top 40 Articles from the Past 6 Months