CFO Gordon Edwards: Growing Gundersen Lutheran's Cash Flow
Gordon Edwards is not yet 40 years old, but he is already making a huge difference in the finances of Gundersen Lutheran Health System in La Crosse, Wis.
Mr. Edwards joined Gundersen Lutheran in February 2011 as CFO. He oversees the system's patient business services, accounting, treasury, finance and managed care strategies.
Recently, Gundersen Lutheran issued $70 million in revenue bonds, increasing its total to $272 million of rated outstanding bonds, and Moody's Investors Service assigned a top-level A1 rating to the bonds. Moody's analysts said Mr. Edwards and the executive team have positioned the health system to grow and flourish, which also resulted in an increased outlook to "stable."
Mr. Edwards has helped maintain the leading market share of Gundersen Lutheran, and Moody's analysts also cited the system's improved and steady operating performance. Through the first six months of fiscal year 2012, Gundersen Lutheran had an operating margin of 4.3 percent and an operating cash flow margin of 10.3 percent.
Moody's analysts credited Mr. Edwards for Gundersen Lutheran's "steady growth in unrestricted cash and investments to $497 million as of June 30, 2012, resulting in strong 229 days cash on hand," according to the report.
Before Gundersen Lutheran, Mr. Edwards worked at Legacy Health in Portland, Ore., for eight years. He held a variety of roles, including vice president and controller, acting CIO, vice president of finance, director of finance operations and director of government reimbursement and payor contracting. Mr. Edwards also spent eight years in public accounting firms Arthur Andersen and KPMG.
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