MORRISTOWN, NJ – NOVEMBER 2013 – Atlantic Health System’s Vice President of Finance and Chief Financial Officer, Kevin Lenahan, was recently named CFO of the Year among large, non-profit companies in New Jersey by NJ BIZ Magazine.
At its annual awards ceremony, the magazine recognized not only Mr. Lenahan’s accomplishments with Atlantic Health System, but his role as the organization continues to grow.
“I’m honored to receive this prestigious award,” Lenahan said. “It’s exciting to help guide one of the country’s leading health care organizations through a vital time in our nation’s history. As the landscape of health care continues to change, Atlantic Health System will continue to have a leading role in providing the highest quality of patient care.”
Atlantic Health System, one of the largest non-profit health care systems in New Jersey, includes Morristown Medical Center, Overlook Medical Center, Newton Medical Center, and Goryeb Children’s Hospital. The organization includes the hospitals’ 1,315 combined beds, as well as numerous physician practices, a durable medical equipment company, a medical transport company providing ground and air transports and a captive insurance company. Morristown Medical Center has been nationally ranked by U.S. News and World Report.
Mr. Lenahan has been part of Atlantic Health System for 18 years, serving as the Chief Financial Officer since 2010. He also holds several other positions within the organization and is CFO of the Atlantic Accountable Care Organization, one of the largest Accountable Care Organizations in the country.
Mr. Lenahan also oversaw the merger of Newton Medical Center, which included cost management as well as investing $16 million to update information system technology and $17 million in facility and equipment improvement. These improvements are part of the ongoing efforts to transform Newton Medical Center into the premiere health care provider for Sussex County in New Jersey as well as Pike County, Pa.
Mr. Lenahan and the Finance team has been vital to Atlantic Health System’s growth.
“I share this recognition with the extremely talented members of the Finance Department, with whom I am grateful to work with on a daily basis,” Lenahan said. “Our finance staff is integrated throughout the organization, and has helped keep Atlantic Health System on the forefront of health care.”
Earlier this year, Atlantic Health System and Hunterdon Healthcare System announced a joint health care alliance to provide greater care coordination and expanded services to patients in the Hunterdon region.
Later this year, Mr. Lenahan and his team will oversee further growth, with an anticipated merger of Chilton Hospital, including financial due diligence on many physician practice acquisitions and joint ventures associated with the merger. The finance team is currently working on a $170 million taxable debt deal. Atlantic is rated A1 by Moody’s and A+ by Standard & Poor’s.
Also in 2013, Atlantic Health System joined AllSpire Health Partners, an alliance of seven health care systems that have come together to serve patients, families and communities in New Jersey, New York, Maryland and Pennsylvania. At its core, AllSpire seeks to improve the quality, affordability and access to health care by sharing clinical, intellectual and economic capabilities.
Mr. Lenahan is an adjunct professor for Fairleigh Dickinson University, teaching graduate and undergraduate students in Essentials of Healthcare Finance. He also has served on the Audit Subcommittee of the United Way of Morris County for the past 13 years. Mr. Lenahan is a member of the Board of Trustees of Morris Catholic High School.
Mr. Lenahan’ s work at Atlantic Health System has earned him a position for the past three years in the Wall Street Journal CFO Network, which brings together leading chief financial officers from the world’s largest corporations to discuss the most pressing issues in corporate finance.
The award program, produced by NJBIZ, New Jersey’s premiere business news publication, was sponsored by WithumSmith+Brown, PC, Robert Half, JPMorgan Chase Bank, N.A, Financial Executives International, and McElroy, Deutsch, Mulvaney & Carpenter, LLP.
The CFO of the Year awards program celebrates New Jersey’s financial executives at all levels who contribute to the success of New Jersey’s economic growth and stability. Finalists were selected in seven categories: Public Company with Revenues over $250MM, Public Company with Revenues up to $250MM, Private Company with Revenues over $50MM, Private Company with Revenues up to $50MM, Nonprofit CFO – Small (50 or fewer employees), Nonprofit CFO – Large (50 or more employees), and Best Growth Manager.
Finalists and winners were chosen by an independent panel of judges including: Paul Chase, Financial Executives International; Michael Mardy, Tumi Holdings; Denis C. Picard, Alvarez & Marsal Business Consulting, LLC; and Vinay Torani, Duff & Phelps, LLC.
To read more about NJ BIZ’s 2013 CFO of the Year Awards, including Mr. Lenahan’s profile, please visit:
For more information about Atlantic Health System, please visit atlantichealth.org.