CFO Eric Peburn: Fortifying Halifax Health's Strong Balance Sheet
For almost five years, Eric Peburn has led the financial drive behind Halifax Health, based in Daytona Beach, Fla., and the health system's balance sheet is strong to say the least.
In fact, Fitch Ratings recently affirmed Halifax Health's "BBB+" credit rating and said Halifax's balance sheet and liquidity are its "primary credit strength."
As of June 30, 2012, Halifax Health had $415.6 million of unrestricted cash and investments, which equaled more than 331 days cash on hand, an 18.3x cushion ratio and a 116.7 percent cash-to-debt ratio. Fitch analysts believe Mr. Peburn and his financial team have managed the system's cash well despite the affect of Medicaid reimbursement reductions statewide.
Mr. Peburn joined Halifax Health in 1996 as the corporate controller. He eventually became director of finance and assistant administer before becoming CFO in November 2007. Before Halifax Health, Mr. Peburn, a certified public accountant, served as an auditor for Ernst & Young in Orlando.
More Articles on Hospital CFO Profiles:
© Copyright ASC COMMUNICATIONS 2012. Interested in LINKING to or REPRINTING this content? View our policies by clicking here.