CFO Joseph Pedley: Keeping Lawrence Memorial Hospital Strong and Stable

Despite considerable regional competition, Lawrence (Kan.) Memorial Hospital has maintained good performance and a stable market share. CFO Joseph Pedley has used 20 years of healthcare financial management experience to ensure the 173-bed hospital stays strong fiscally.

Lawrence Memorial received an "A1" rating from Moody's Investors Service for its $57 million of rated bonds issued through Lawrence, Kan. The hospital also has $10.5 million in unrated series 2012 fixed rate bonds outstanding. Moody's confirmed a stable outlook and noted the hospital has a track record of good operating performance, with an adjusted 12.5 percent operating cash flow margin in fiscal year 2012.

Mr. Pedley became Lawrence Memorial's CFO in 2012, succeeding Simon Scholtz. Previously, he served as the CFO at Mercy Regional Medical Center in Durango, Colo. Before that, he also worked for Catholic Health Initiatives, an Englewood, Colo.-based, nonprofit health system with more than 70 hospitals.

He is a certified public accountant and holds a bachelor's degree in business administration with a concentration in accounting from the University of Nebraska.

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