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June 01, 2004

Andrew DeVoe Appointed Senior Vice President and Chief Financial Officer for the
University of Pennsylvania Health System

(Philadelphia, PA) -- Andrew DeVoe has been named Senior Vice President and Chief Financial Officer for the University of Pennsylvania Health System (UPHS), effective May 10, 2004. Prior to joining UPHS, DeVoe served as Regional Vice President of Finance for Tenet Healthcare Corporation.

Among other major responsibilities, DeVoe will be accountable for leading the UPHS capital- and operating-budget process, providing financial support to the UPHS leadership team in the development of strategic and operating plans, partnering and integrating financial services to support UPHS business objectives and missions, leading the implementation and oversight of efficient customer-focused financial processes and systems, and providing appropriate management controls and stewardship of assets.

“Andrew’s career path shows wide experience in financial management and operations, as well as planning and strategy,” said Ralph W. Muller, Chief Executive Officer of UPHS, in announcing the appointment. “He has successfully guided financial turnarounds and stable operations; and we are confident of his ability to support us in developing long-term financial strategies for UPHS.

“At UPHS, Andrew will work closely with the leadership teams at the Health System, the School of Medicine, and the University to meet performance objectives of the PENN Medicine Strategic Plan,” added Muller. “He will also work closely with our financial managers on critical day-to-day operations.”

DeVoe’s extensive and geographically diverse experience in for-profit health-care systems has positioned him well to assume the top financial position in UPHS, one of the nation’s leading academic health systems. During his eight-year tenure with Tenet Healthcare Corporation, DeVoe served as Chief Financial Officer for three discrete hospitals/medical centers in the eastern United States before assuming the top finance job for Tenet’s Philadelphia market. Prior to that, he held positions of increasing responsibility with Health Management Association, Inc. (of Naples, FL) and Hospital Corporation of America (of Nashville, TN).

“I am delighted to join one of the nation’s leading academic health systems, and look forwarding to working with the Health System’s leadership to identify and positively exploit additional opportunities for cost-savings and revenue growth,” said DeVoe. “My previous experience in for-profit medicine has given me a perspective that may prove valuable in improving the fiscal operations of our health system at the operations level.”

In 1991, DeVoe earned his bachelor’s degree in Finance from Belmont College, in Nashville, TN. He is a member of the Healthcare Financial Management Association; and, for four nearly-consecutive years (1999, 2001, 2002, and 2003), he earned Tenet Corporation’s “Outstanding CFO Award.”

Andrew DeVoe and his wife, Susan, live in Ardmore, PA, with their five children.

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PENN Medicine is a $2.5 billion enterprise dedicated to the related missions of medical education, biomedical research, and high-quality patient care. PENN Medicine consists of the University of Pennsylvania School of Medicine (founded in 1765 as the nation’s first medical school) and the University of Pennsylvania Health System (created in 1993 as the nation’s first integrated academic health system).

Penn’s School of Medicine is ranked #2 in the nation for receipt of NIH research funds; and ranked #4 in the nation in U.S. News & World Report’s most recent ranking of top research-oriented medical schools. Supporting 1,400 fulltime faculty and 700 students, the School of Medicine is recognized worldwide for its superior education and training of the next generation of physician-scientists and leaders of academic medicine.

Penn Health System consists of four hospitals (including its flagship Hospital of the University of Pennsylvania, consistently rated one of the nation’s “Honor Roll” hospitals by U.S. News & World Report), a faculty practice plan, a primary-care provider network, three multispecialty satellite facilities, and home health care and hospice.


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