CEO Larry Anderson: Turning Around Tri-City Medical Center
When Mr. Anderson inherited his current position, Tri-City reported an $18 million loss on its balance sheet. By the end of the 2011 fiscal year, the hospital reported a $15.2 million profit.
Most notably, Mr. Anderson spurred the hospital to refinance several of its high interest rate securities. Refinancing brought Tri-City interest rates from an aggregate 17.5 percent to roughly 5 percent.
Since he started, Tri-City has also received seismic clearance from the state of California until 2030 and obtained national certifications in pulmonary rehabilitation and chest pain.
Before joining Tri-City, Mr. Anderson worked at Integrated Healthcare Holdings, a hospital company that owns and operates four hospitals in Orange County, Calif., and seven-hospital chain Alta Healthcare System in Los Angeles. Mr. Anderson also spent most of his professional career as in-house counsel for the U.S. Postal Service.
Larry Anderson will be a featured panelist at the Becker’s Hospital Review Annual Chief Executive Officer Strategy Roundtable, taking place Nov. 1, 2012, at the Ritz Carlton Chicago. Please join us for the Roundtable from 4 p.m. to 6 p.m. Dinner and a reception to follow. Registration limited to 100 attendees. To register or learn more about the event, click here.
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