CFO Terry Shaw: Bolstering Adventist Health System's Credit

With more than $7.3 billion in revenues across 41 hospitals in 10 states, Adventist health System CFO Terry Shaw oversees the finances of one of the largest faith-based health systems in the South and in the country.

Terry Shaw is CFO of Adventist Health System.Mr. Shaw, who also serves as Adventist's COO, has solidified the health system's financial performance over the past few years. Moody's Investors Service, which recently assigned an Aa3 rating to Adventist's $311 million in fixed-rate bonds, said Adventist continues to report strong annual earnings "under the direction of seasoned leadership" such as Mr. Shaw and others.

In fiscal year 2011, Adventist's cash flow margin was 13.6 percent, up from 12.9 percent in FY 2010. Adventist has also significantly grown its liquidity over the past several years — at the end of FY 2011, Adventist had $3.9 billion in cash reserves and 224 days cash on hand.

Moody's also revised Adventist's rating outlook to positive from stable, citing the health system's growing fiscal stability. "The positive outlook positions the rating for an upgrade over the next two years as debt coverage measures show further improvement given the organization's remarkably consistent financial performance," according to the Moody's report.

Prior to his current positions, Mr. Shaw served as senior vice president and CFO of Adventist's Florida Division. He also was the vice president, assistant vice president and director of DRG management at Florida Hospital Orlando.

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