CEO Cliff Megerian already has someone in mind to take over the role.
University Hospitals has announced that long-time CFO Michael Szubski will retire next year.
Szubski has been with University Hospitals, an integrated network of 21 hospitals (including five joint ventures), more than 50 health centers and outpatient facilities, and over 200 physician offices in 16 counties throughout northern Ohio, for almost 20 years, but his career in finance spans more than four decades.
Szubski has helped University Hospitals grow revenues from $1 billion to $5.4 billion during his tenure. He also led several of the organization’s key acquisitions, including UH Elyria, UH Parma, UH Portage, UH Samaritan, and UH St. John medical centers. Szubski recently completed the integration of Lake Health; 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. He has been spearheading the transition to the Epic electronic health record, including project assessment, benefits analysis, and final approval by the organization’s board.
"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," University Hospitals CEO Cliff Megerian said in a release announcing Szubski’s retirement. "We thank him for his service and wish him the best as he enters a new chapter in his life."
Megerian plans to nominate Bradley Bond, vice president of treasury for Community Medical Centers, UHMP and Ventures Finance, for the role of CFO when Szubski retires in January 2024. Bond manages the system’s investments, debt and swap transactions, cash management, leasing contracts, pension, and risk management, and tax compliance and research. He is also the finance lead for operations involving UH’s regional community medical centers, community physician groups, and UH Ventures.
Amanda Schiavo is the Finance Editor for HealthLeaders.