North Adams, Mass.-based Northern Berkshire Healthcare President and CEO Richard Palmisano has stepped down as president and CEO of the system's North Adams Regional Hospital to become the organization's chief restructuring officer, according to a Berkshire Eagle report.
Mr. Palmisano is assuming this new position to focus on restructuring NBH's $49.5 million debt. His three main goals will be financial restructuring of debt, attaining status as a critical access hospital and restructuring the hospital's pension plan, according to Arthur Turton, MD, chairman of the board of trustees.
Mr. Palmisano will remain CEO of the system, but Trustee William Frado will replace him as NBH's president and as North Adams Regional's president and CEO. Mr. Frado most recently served as senior vice president of health benefits company Harvard Pilgrim Health Care.
North Adams Regional Hospital has also named Jonathan Cluett, MD, the organization's first medical staff liaison to recruit and retain new physicians.
Read the Berkshire Eagle report on Northern Berkshire Healthcare CEO Richard Palmisano becoming chief restructuring officer.
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Mr. Palmisano is assuming this new position to focus on restructuring NBH's $49.5 million debt. His three main goals will be financial restructuring of debt, attaining status as a critical access hospital and restructuring the hospital's pension plan, according to Arthur Turton, MD, chairman of the board of trustees.
Mr. Palmisano will remain CEO of the system, but Trustee William Frado will replace him as NBH's president and as North Adams Regional's president and CEO. Mr. Frado most recently served as senior vice president of health benefits company Harvard Pilgrim Health Care.
North Adams Regional Hospital has also named Jonathan Cluett, MD, the organization's first medical staff liaison to recruit and retain new physicians.
Read the Berkshire Eagle report on Northern Berkshire Healthcare CEO Richard Palmisano becoming chief restructuring officer.
Related Articles on Massachusetts Hospital Executive Moves:
Massachusetts' Heywood Hospital Names Winfield Brown CEO
Massachusetts' St. Vincent Hospital Names Erik Wexler CEO
UMass Memorial Health Names Douglas Brown Interim CEO of Marlborough Hospital