Phillip S. Schaengold, J.D., Appointed CEO of HUMC
HOBOKEN, N.J.--(BUSINESS WIRE)-- Hoboken University Medical Center (“HUMC”) opens today under new leadership with a new vision for the hospital and a renewed commitment to the hospital’s staff, physicians, patients, and the Hoboken community. The sale of HUMC to HUMC Holdco, LLC was finalized today as the transaction came to a close. The New Jersey Health and Senior Services Commissioner had previously approved the Certificate of Need for the transfer of ownership of HUMC to HUMC Holdco, based on the State Health Planning Board’s formal recommendation earlier this year.
HUMC Holdco would like to thank Mayor Zimmer and the Hoboken City Council, Governor Christie and the State of New Jersey, HMHA Chairwoman Tomarazzo, and members of the HMHA and HUMC Boards for their support. Their efforts have saved HUMC and we are most appreciative of all their work throughout the sale process. Most importantly, HUMC Holdco is grateful for the support and loyalty of the physicians, current HUMC employees who have dealt with the stress of an uncertain future, and the citizens of Hoboken and surrounding communities.
“We are excited to lead HUMC into what promises to be a bright future of positive change,” said HUMC CEO Phillip S. Schaengold, J.D. “We are looking forward to working with the hospital’s physicians, employees, and Hoboken community members to make HUMC one of the state’s best hospitals. HUMC will undergo a significant transformation in the next few years as we invest in major improvements to support the hospital’s employees and provide high quality patient care.”
HUMC’s new leadership team has already begun investing in the future of New Jersey’s oldest hospital and evaluating areas of need. The ownership group and leadership team are committed to developing new programs and initiatives at HUMC, and enhancing existing programs and services, to meet the needs of the residents of Hoboken and adjoining communities.
The hospital will be led by Schaengold, who has more than 30 years of experience in the health care industry. He has established a singular track record implementing rapid and lasting improvements to hospitals that benefit patients, physicians, medical staff, and the communities they support. His effectiveness, openness, and strength of vision make him the ideal candidate to steer the planned investment and renewed commitment to HUMC.
Schaengold’s long history of success includes his service as the regional CEO of Tenet St. Louis, a network of five hospitals including St. Louis University Hospital, which was named one of the country’s 50-best hospitals by Modern Maturity and ranked in 10 separate clinical categories in U.S. News & World Report’s survey of the country’s finest hospitals during Schaengold’s tenure. He also served as CEO of Upstate Medical University Hospital at the State University of New York in Syracuse, where he oversaw a $140 million expansion including the addition of a new children’s hospital. His highly effective term as CEO of The George Washington University Hospital also provided him solid experience in guiding transitional periods for health care facilities. He has served as President and CEO of the Sinai Health System in Detroit for five years as well. Immediately prior to his work with HUMC, Schaengold was President and CEO of Memorial Health in Savannah, Georgia.
His dedication to his work, like that of many health care providers, is fueled by personal experience. In 1972 he took his first management position in the medical field as the Director of Pharmacy at a hospital within the Franciscan Sisters of the Poor system, setting out on a career in which he sought to give something back to the profession that had cared for him after he was stricken by polio as a child.
He has proven to be an excellent caretaker of the institutions he serves, and HUMC has already benefited from Schaengold’s leadership. Since June, he has served as the Chief Transition Officer for HUMC’s new ownership group, managing all aspects of the transfer of ownership of the hospital. His stewardship of that process confirms both the value of his experience and his devotion to introducing improvements in HUMC’s service to its patients, its medical professionals, and its surrounding community.
HUMC Holdco, LLC
Spencer Baretz, 917-848-0472
KEYWORDS: United States North America New Jersey
INDUSTRY KEYWORDS: Health Hospitals Professional Services Finance General Health