- Chain said to also fire eight regional medical officers
- Tenet shares are down 46 percent in the last 12 months
Tenet Healthcare Corp.’s senior vice president for clinical operations and chief clinical officer Kelvin Baggett will step down on April 30, according to a person familiar with the matter, as part of what the hospital chain called a broader realignment of its clinical operations.
In addition, Tenet recently fired eight of its 40 regional chief medical officers who serve as managers for medical services for the chain, the person said. Tenet operates more than 500 hospitals, surgical centers and outpatient clinics, according to its website. The person spoke on condition of anonymity because the matter isn’t yet public.
Baggett’s departure was announced in a memo, a copy of which was obtained by Bloomberg. Baggett came to Dallas-based Tenet, the third-biggest U.S. chain of for-profit hospitals, from rival HCA Holdings Inc. in 2009, when he was hired as chief medical officer. He started in his current role in 2013.
Baggett didn’t respond to an e-mail message asking for comment.
Baggett is leaving as Tenet combines its clinical operations department under its hospital operations unit, which is headed by Britt Reynolds, according to the memo. The company is taking a “natural step in our efforts to enhance clinical excellence across the Tenet enterprise by bringing closer alignment between our clinical and hospital functions,” Chief Executive Officer Trevor Fetter said in the memo.
Hospital chains have seen their shares decline over the past few months as the benefits of Obamacare plateaued and a mild flu season hurt admissions. Tenet’s stock is down 46 percent in the last 12 months. In January, Tenet expanded its board to 12 members from 10 and added two directors from its biggest shareholder, Glenview Capital Management.