Norman (Okla.) Regional Health System’s board of trustees voted March 24 to keep the system independent and to accept the resignation of its co-CEO and CFO Rick Wagner.
Norman Regional’s other co-CEO, Aaron Boyd, MD, will become president and CEO, effective immediately. Norman Regional is also planning to hire an interim CFO, according to an internal message from the system shared with Becker’s.
Mr. Wagner and Dr. Boyd became co-CEOs in late September 2024 when then-CEO Richie Splitt exited.
In late February, Norman Regional shared it was looking into the possibility of partnering with or selling to another organization amid ongoing financial struggles. While the system saw “record-breaking” January volumes, it did not see expected financial results.
The system will engage with Plante Moran, a healthcare financial consulting firm, to develop a “successful, long-term independence” plan.
“Our No. 1 priority is continuity of care,” the email said. “We remain committed to providing personalized healthcare with compassion and excellence for the residents of south central Oklahoma for many years to come.”
