Trinity Health Mid-Atlantic CEO James L. Woodward will be retiring in January, according to the health system. Woodward first joined the Philadelphia region in 2016 as the CEO of St. Mary Medical Center in Langhorne. Two years later, he took on the role of CEO for a five-hospital group formed by their common owner, Trinity Health, based in Livonia, Michigan. This group was known as Trinity Health Mid-Atlantic and included hospitals such as St. Mary, Nazareth, Mercy Fitzgerald, Mercy Philadelphia, and St. Francis.
Trinity Health had originally planned to close Mercy Philadelphia in 2020 but the hospital was kept open in a modified form by the University of Pennsylvania Health System. Despite this setback, Trinity Health reported $1.1 billion in revenue from its nonprofit, Philadelphia-area hospitals for the fiscal year ending June 30, 2023. However, this was a decrease from $2.2 billion in revenue reported for fiscal 2018 according to audited financial statements.
One of the reasons for this decline in revenue was due to the sale of Lourdes Health System in South Jersey to Virtua Health in 2019 which had reported $542 million in revenue during Trinity’s ownership period and also due to sale of St Francis Medical Center Trenton by Trinity to Capital Health which closed it later that year . Becker’s Hospital Review had previously reported on Woodward’s upcoming retirement..
