UPMC recruits Novant's CFO

UPMC has named Frederick Hargett as its executive vice president and CFO, effective Oct. 1.

Mr. Hargett will succeed Edward Karlovich, who has been with the Pittsburgh-based health system since 1990 and announced his retirement earlier this year. 

Mr. Hargett will join UPMC from Winston-Salem, N.C.-based Novant Health, where he has served as executive vice president and CFO for 15 years. Throughout his tenure, the system has grown from $1.5 billion to $8 billion in revenue and now has 16 hospitals.

UPMC has 40 hospitals and, in 2022, recorded $26 billion in operating revenue. 

"I am pleased that our team has recruited such an outstanding fiscal expert and leader with tremendous experience steering long-term diversified strategic growth while stewarding core financial functions of daily operations," Leslie Davis, president and CEO of UPMC, said in a news release. "With our shared vision to continue growing access to UPMC's care, I am grateful Fred has chosen to join us, and I am pleased to welcome him to UPMC."

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