Fred Hargett joined Winston-Salem, N.C.-based Novant Health's financial team in 2003, quickly climbing the ranks to become CFO and managing the system's $3.5 billion in annual consolidated revenue. Previously, Mr. Hargett worked as a healthcare consultant for Ernst & Young.
Novant had a greatly improved 2012 fiscal year, earning $274 million in net income, up from a mere $1 million the previous year, much of that margin coming from a $109 million investment growth after a $19 million loss in 2011.
The non-profit health system claimed it contributed $5.9 billion to the North Carolina economy last year. Moody's Investors Service assigned an "A1" rating to the system's $537 million most recent debt and affirmed its identical rating on the systems' outstanding debt, citing the system's stable three-year operating cash flow average of 10.5 percent.
Mr. Hargett, a CPA, earned bachelor's degrees in public health and business administration and a master of accounting degree, all from the University of North Carolina Chapel Hill.
If you have more information or updates for this profile or would like to recommend a leader to be profiled in the future, please contact Lindsey Dunn, editor in chief, Becker's Hospital Review at ldunn@beckershealthcare.com.
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Novant had a greatly improved 2012 fiscal year, earning $274 million in net income, up from a mere $1 million the previous year, much of that margin coming from a $109 million investment growth after a $19 million loss in 2011. The non-profit health system claimed it contributed $5.9 billion to the North Carolina economy last year. Moody's Investors Service assigned an "A1" rating to the system's $537 million most recent debt and affirmed its identical rating on the systems' outstanding debt, citing the system's stable three-year operating cash flow average of 10.5 percent.
Mr. Hargett, a CPA, earned bachelor's degrees in public health and business administration and a master of accounting degree, all from the University of North Carolina Chapel Hill.
If you have more information or updates for this profile or would like to recommend a leader to be profiled in the future, please contact Lindsey Dunn, editor in chief, Becker's Hospital Review at ldunn@beckershealthcare.com.
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