September 22, 2017 9:30 PM ET

Healthcare Providers and Services

Company Overview of Wake Forest Baptist Medical Center

Company Overview

Wake Forest Baptist Medical Center owns and operates hospitals and academic medical centers. It offers services in the areas of comprehensive cancer, heart and vascular care, neurology and neurosurgery, orthopedic, pediatrics, and primary care. Wake Forest Baptist Medical Center was formerly known as Wake Forest University Baptist Medical Center and changed its name to Wake Forest Baptist Medical Center in March 2011. The company was incorporated in 1975 and is based in Winston-Salem, North Carolina. It has hospitals in Winston-Salem, Lexington, Bermuda Run, Clemmons, and Greensboro, North Carolina.

Medical Center Boulevard

Winston-Salem, NC 27157

United States

Founded in 1975

Phone:

336-716-2255

Fax:

336-716-6841

Key Executives for Wake Forest Baptist Medical Center

CEO & Interim Medical School Dean
Age: 62
VP of Treasury and Interim CFO
Chief Innovation Officer and President of Wake Forest Innovation Quarter
Age: 69
Chief Information Officer and Vice President
Vice President of Legal Affairs and General Counsel
Compensation as of Fiscal Year 2017.

Wake Forest Baptist Medical Center Key Developments

Wake Forest Baptist Medical Center Reports Earnings Results for the Year Ended June 30, 2017

Wake Forest Baptist Medical Center reported earnings results for the year ended June 30, 2017. Total net revenues of $2.7 billion were 12.2% higher than the prior year. Unrestricted net assets increased $180.6 million for the twelve-month period (July 1, 2016 - June 30, 2017). This gain is comprised of operating income of $77.7 million (2.9% operating margin) and net non-operating gains of $102.9 million.

Wake Forest Baptist Medical Center Announces Executive Changes

Wake Forest Baptist Medical Center's executive management team member, Chad Eckes, has left. Eckes' departure as chief financial officer as going into effect on June 12, and as voluntary to pursue other opportunities.  Bradley Clark, vice president of treasury, is replacing Eckes on an interim basis as CFO and leader of corporate services. Clark has served in several roles on the medical center's financial team since 2002.

Wake Forest Baptist Medical Center Announces Management Changes

Wake Forest Baptist Medical Center announced Julie Ann Freischlag, M.D., as its new chief executive officer. Freischlag joins the medical center on May 1, 2017 and succeeds CEO John D. McConnell, M.D., who last year announced that he would transition to a new position at the Medical Center, after leading it since 2008. As CEO, Freischlag will oversee the full scope of Wake Forest Baptist's academic health system, which includes Wake Forest School of Medicine, Wake Forest Baptist Health, Wake Forest Innovations, Wake Forest Innovation Quarter, and a network of hospitals, physician practices and medical/surgical services. The CEO reports to the medical center's board of directors. Freischlag, 62, comes to Winston-Salem from Sacramento, California where she is currently vice chancellor for human health sciences and dean of the School of Medicine at the University of California Davis. In this role, Freischlag directs UC Davis' academic, research and clinical programs.

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