Dr. Andrew Mueller has submitted his resignation.
Mueller came to Centra in 2019, and will be moving on to be the CEO with MaineHealth in Portland, Maine this spring.
Centra’s board of directors and a recruitment firm will begin the search for Mueller’s replacement over the next few months.
Richard Tugman has been named interim President and CEO and starts immediately.
The pandemic set Centra back $79.1 million in revenues through September 2020 compared to the same period in 2019, since certain services and procedures were suspended for several months, its statement reads. Some of that was offset by $56.9 million from CARES Act grants and interest-free Medicare advance payments, which will start coming due for repayment in April.
Along with challenges and uncertainty in the wake of COVID-19, S&P analysts noted progress from Centra’s management team — including its CEO — in “cost savings and revenue cycle improvements.”
“We expect management will continue to execute on the performance improvement plan that will translate into positive operations for fiscal years 2021 and 2022, with operating margins closer to 2%,” the S&P analysts’ overview reads.
“We expect management will continue to execute on the performance improvement plan that will translate into positive operations for fiscal years 2021 and 2022, with operating margins closer to 2%,” the S&P analysts’ overview reads.
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