Presence Health CEO resigns one week after Ascension acquisition

The beginning of March saw St. Louis-based Ascension Health officially take over Chicago’s Presence Health. A week later, Presence president and CEO Michael Englehart announced he would be stepping down.

According to the Chicago Tribune, Englehart told staff in a memo he “has decided to take some time off before pursuing new opportunities.” His last day will be March 30, ending a tenure with the company that began in October 2015.

During that time, he oversaw a financial turnaround at Presence, going from a $186 million operating loss in 2015 to a $12.4 million gain by the first quarter of 2017. He helped the company divest of hospitals in Danville and Urbana, Illinois, to Peoria-based OSF HealthCare, as well as the sale to Ascension. All facilities operated by Presence are joining AMITA Health, Ascension’s existing joint venture in Illinois, with the Presence name expected to be phased out.

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