Release Date: 03/04/2010
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Lahey Clinic Announces CEO Succession Plan
David M. Barrett, MD, has announced that he will step down as president and chief executive officer of Lahey Clinic in January 2011. At the request of the Board of Trustees, Barrett will remain in a new strategic leadership role through September 2012 as part of a succession plan.
Irving “Chip” Rogers III, chairman of the Board, said the board has formed a search committee for Barrett's replacement, with the national search beginning this April. “Lahey Clinic has experienced tremendous growth under Dr. Barrett's leadership,” Rogers said. “During his tenure, the Clinic has emerged as one of the most financially stable health care organizations in a very competitive and challenging region. The time is right to start an orderly succession to position Lahey for the future.”
Under Barrett's decade of leadership, Lahey Clinic completed facility expansions at its two medical centers in Burlington and Peabody; formed clinical partnerships with other area hospitals to provide specialty care; and strengthened its academic ties to Tufts University School of Medicine.
Barrett also presided over significant growth in services at Lahey, including steady increases in surgical cases, outpatient encounters and discharges over the past 10 years. Since 1999, the organization's operating revenue has increased more than 90 percent, to $833 million. At the close of 2009, Standard & Poor's raised its rating on health care revenue bonds issued for Lahey Clinic Medical Center to A , with a stable outlook.
“That rating reflects Lahey's strengths as an integrated group practice,” said James W. Henderson, vice chairman of the Board of Trustees. “Multispecialty care has always been the mission; but Dr. Barrett's vision over the past decade is very much the reason for the organization's vitality today.”
Barrett joined Lahey in September 1999, after a long and distinguished career as a physician, teacher and administrator at Mayo Clinic in Rochester, Minn. Along with his administrative responsibilities, Barrett continues to work as a physician and professor of urology at Tufts University School of Medicine. “I consider myself privileged to have served two of the finest health care institutions in the country,” Barrett said. “Lahey Clinic has practiced the same model of medicine as Mayo Clinic for more than 85 years. My goal has been to ensure it will continue that tradition for 80 more. I have confidence our board will find the right individual to continue the progress we've made over the past few years.”
About Lahey Clinic
Lahey Clinic, a physician-led, nonprofit group practice, is world-renowned for innovative technology, pioneering medical treatment, and leading-edge research. A teaching hospital of Tufts University School of Medicine, the Clinic provides quality health care in virtually every specialty and subspecialty, from primary care to cancer diagnosis and treatment to kidney and liver transplantation. For more information please visit our website at www.lahey.org.