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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