Kirk Gorman Appointed CFO of Jefferson Health System

Radnor, Pa., September 23, 2003—Jefferson Health System (JHS) has named Kirk E. Gorman as the organization’s new senior vice president and chief financial officer, effective October 1, 2003. The former Universal Health Services, Inc. executive will replace Brian Derrick, who has served as interim chief financial officer since July, 2002.

Mr. Gorman had been senior vice president and chief financial officer of Universal Health Services, Inc. (UHS) in King of Prussia, Pa., a position he held from 1987 until earlier this year. In that role he helped guide the growth of UHS into one of the nation’s largest hospital companies, operating over 100 acute care and behavioral health hospitals with 2002 net revenues of more than $3.2 billion. Prior to UHS, he was at Mellon Bank for 13 years, where he served as senior vice president.

“JHS is fortunate to have been able to round out its new management team with a hospital executive of Kirk’s proven expertise and track record. He is uniquely equipped to help us deal with the financial challenges of managing a large hospital system," said Joseph T. Sebastianelli, president and CEO, JHS.

Mr. Gorman holds an MBA from the Amos Tuck School of Business at Dartmouth College, where he also received his undergraduate degree. He resides in Wayne, Pa., with his wife, Sandi, and has two grown children.

JHS is a not-for-profit health system composed of the Albert Einstein Healthcare Network, Frankford Health Care System, Magee Rehabilitation, Main Line Health and Thomas Jefferson University Hospital. JHS has more than $2 billion in annual net revenues, 25,000 employees, 3,100 staffed beds, and 4,700 medical staff members, making it the largest health system in the Delaware Valley. Thomas Jefferson University is the primary academic affiliate of JHS.

Published: 9-23-2003

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