Michael Sack, president CEO of Medford, Mass.-based Hallmark Health System, will retire this month after serving for 12 years at the helm, according to the Boston Business Journal.
According to the report, Mr. Sack announced his plans to retire a week after Hallmark Health System learned Boston-based Partners HealthCare would not acquire it as planned. Despite the timing of his retirement, Hallmark spokesman Rob Brogna told the Boston Business Journal Mr. Sack's decision to retire is unrelated.
Mr. Sack's departure comes during a turbulent time for Hallmark. According to the report, the system suffered a $443,000 operating loss in fiscal 2013, though that year was an improvement from the $1.5 million operating loss in 2012.
Until a permanent leader is chosen, Alan MacDonald, Hallmark's executive vice president for strategy and external affairs, will lead the system on an interim basis.