CFO Thomas Schuhle: St. Peter's Health Partners Creates New Credit Strengths
One of the primary healthcare providers in the Albany, N.Y., region, St. Peter's Health Partners, officially became the health system it is today earlier this month, and CFO Thomas Schuhle oversees its growing finances.
St. Peter's Health Care Services, Seton Health and Northeast Health — all of which are affiliated with Newton Square, Pa.-based Catholic Health East — merged to form St. Peter's Health Partners, forming one of the largest health systems in the area. As CFO, Mr. Schuhle must make sure the health system has a stable source of revenue, and its enhanced market position has become a primary credit strength, according to a Fitch Ratings report.
Fitch analysts upgraded the rating on St. Peter's Health Partners to "BBB+" from "BBB" when the merger was finalized, and they believe Mr. Schuhle and others have the system in an ideal spot. The health system had solid balance sheet metrics as of June 30, 2012, including $392.9 million in unrestricted cash and investments, which equated to 147.1 days cash on hand and a cushion ratio of 14.3x.
Mr. Schuhle was named "CFO of the Year" in 2009 by Albany's Business Review, and he had been executive vice president and CFO of Northeast Health since 1995.
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