CFO Todd LaPorte: Scottsdale Healthcare's Champion of Fiscal Growth
Todd LaPorte has served as CFO of Scottsdale (Ariz.) Healthcare since 2007, and now the three-hospital health system has become a preeminent provider within Arizona.
Scottsdale Healthcare holds a dominant position in the city with a 70 percent market share thanks to its three hospitals — Osborn Medical Center, Shea Medical Center and Thompson Peak Hospital.
Moody's Investors Service took note of Mr. LaPorte and the health system's solid financials this week, as it upgraded Scottsdale Healthcare's bond rating from "A3" to "A2" on its $332 million of outstanding debt.
Moody's analysts said Mr. LaPorte has positioned the health system's finances solidly, as "the new rating level reflects the continuation of solid operating margins, the continued improvement of balance sheet measures, the overall growth of operating cash flow production and the absence of significant capital spending or debt plans," according to its report.
As of June 30, Scottsdale Healthcare had 190 days cash on hand, and in fiscal year 2011, the health system had a favorable operating cash flow margin of 9.6 percent. Moody's also said Thompson Peak Hospital, which opened in 2008, is "now operating profitably and producing a favorable cash flow."
Mr. LaPorte first joined Scottsdale Healthcare in 2001 as director of finance. He served as associate vice president of finance and vice president of finance before he was promoted to his current position. Before Scottsdale Healthcare, Mr. LaPorte served as CFO of Dental-Net, the parent company of Arizona's second-largest dental plan, in Tucson for nine years. He also worked at Ernst & Young for eight years.
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