ProMedica Announces New Chief Financial Officer

ProMedica, a not-for-profit, mission-based health and well-being organization, today announced Steve Cavanaugh has been appointed as chief financial officer (CFO) of ProMedica to succeed Mike Browning, effective June 3, 2019.

Serving 26 years in the healthcare industry, Mr. Cavanaugh will bring a wealth of experience to the ProMedica system CFO role. Since ProMedica’s acquisition of HCR ManorCare in July 2018, he has served as president of ProMedica’s HCR ManorCare division. Prior to the acquisition, he held several executive roles at HCR ManorCare over the years, including president and chief executive officer, chief operating officer, and chief financial officer. As the former CFO of a publicly traded, multi-billion-dollar company, Mr. Cavanaugh is well versed in providing strategic oversight for accounting, financial services, tax, treasury, internal auditing, reimbursement, purchasing and investor relations.

“Steve is a talented, accomplished leader who embraces and champions ProMedica’s bold vision for the future of health care,” said Randy Oostra, president and CEO of ProMedica. “Given the expertise and experience he will bring to the finance function, the CFO role and the entire ProMedica system, I am highly confident this will be a seamless transition that allows us to continue our momentum.”

In a related move, David Parker, current chief operating officer for ProMedica’s HCR ManorCare division, is being promoted to president of HCR ManorCare. Mr. Parker has held several leadership roles over the past 25 years at HCR ManorCare, and his experience and results-oriented focus make him the ideal choice to lead HCR ManorCare.

For more information about ProMedica, visit www.promedica.org.

ProMedica is a mission-based, not-for-profit integrated healthcare organization headquartered in Toledo, Ohio. It serves communities in 28 states. The organization offers acute and ambulatory care, an insurance company with a dental plan, and post-acute and academic business lines. The organization has more than 56,000 employees, 13 hospitals, 2,100+ physicians and advanced practice providers with privileges, 900+ healthcare providers employed by ProMedica Physicians, a health plan, and nearly 400 assisted living facilities, skilled nursing and rehabilitation centers, memory care communities, outpatient rehabilitation clinics, and hospice and home health care agencies. Driven by its Mission to improve your health and well-being, ProMedica has been nationally recognized for its advocacy programs and efforts to address social determinants of health. For more information about ProMedica, please visit www.promedica.org/aboutus.