Randy Schultz Email & Phone Number

Newtown Square, Pa

Promoted from Vice President of Financial Services into expanded role providing strategic leadership in directing the Treasury function with $4B in investments and $1.5B in long-term debt. In this role, I developed, analyzed, and managed the company’s asset/liability structure, access to capital, and short and long-term financial and capital plans. Serving as primary point of contact for capital markets, rating agencies, and CHE Advisors, I gained a reputation as a transformation catalyst based on proven ability to lead positive change, while proactively managing risk.KEY PERFORMANCE HIGHLIGHTS INCLUDE: Orchestrated financing transactions totaling over $2B, including tax-exempt and taxable bonds, reverse repurchase agreements, acquisition bridge financing, letters of credit, and liquidity facilities. Provided key input to senior management and conducted due diligence on acquisitions and joint ventures accretive to the organization. Implemented diversification strategies for financing products, effectively mitigating financial risk during recession of 2008 and yielding praise by Moody’s, S&P, and Fitch. Effectively administered interest rate swap program, post-financial crisis of 2008/2009, by identifying and leveraging market downturn as potential opportunity for CHE. Guided negotiations with New Jersey State Officials (State Treasurer & Executive Director of Healthcare Financing Authority) to save critical teaching hospital in low income community. Increased line of credit by 600% while reducing cost of debt to 2.9% in 2012, outperforming industry average based on CHE’s A+ credit rating.

Newtown Square, Pa

Recruited to this position based on industry reputation to provide full P&L accountability for system-wide budgeting, financial planning, and coordination of internal/external audits and systems financial reporting. Leveraging demonstrated leadership in capital budgeting and strategic financial analysis, I was hand picked for special projects to enhance corporate liquidity and fiscal stability of CHE including process redesign, strategic repositioning, and financial strategy initiatives. KEY PERFORMANCE HIGHLIGHTS INCLUDE: Directed process for Treasury as part of comprehensive Financial Services Visioning initiative in effort to centralize all financial service functions and reduce inefficiencies and associated costs. Led conversion of accounts payable functions from local systems to shared service for processing of 65K invoices per month through implementation of Lawson in all CHE acute care operations. Slashed financial risk of CHE through collaborative effort to create risk-based, liability-driven investment strategy for frozen plans; all defined benefit plans were replaced with defined contribution plans. Championed adoption of Hyperion Solutions for system-wide financial reporting; led implementation team, delivering consistent and timely financial reports for 18 Regional Health Corporations and Corporate Office.Negotiated 3-year external audit engagement with cost in lowest quartile of large Catholic health systems. Established financial policies to improve accuracy of financial data, minimizing year-end audit adjustments.

Nashville, Tn

Based on prior relationship, I was recruited back to HCA by the CEO of the Northeast Division to lead HCA's aggressive expansion initiative. In this role, I was charged with recruiting independent hospital systems and submitting proposals to support the CEOs ambitious growth agenda. Multifaceted activities included formulating affiliate agreements for acquisitions and joint ventures, conducting competitive analysis of potential healthcare services providers, and driving market entry strategies for the Northeast Division spanning 10 states.

Springfield, Pa

Crozer-Keystone Health System was formed from the 1990 merger of Crozer-Chester Medical Center and Delaware County Memorial Hospital, followed by subsequent acquisitions of three additional acute care facilities. With annual revenues exceeding $500 million, Crozer-Keystone is an integrated healthcare delivery system.I was recruited by the CEO and joined just days prior to the merger. As a trusted advisor and member of the senior management team, I provided strategic leadership in directing treasury, corporate financial reporting, audit, corporate trust, operating/capital budgets, and health maintenance operations. Key to my success was my ability to build productive working relationships with investment/wholesale banking, corporate trust, and rating agencies to enhance confidence in the Crozer-Keystone Health System. KEY PERFORMANCE HIGHLIGHTS INCLUDE: Developed a capital acquisition and financing policy to guide the systems’ capital needs.Restructured and refinanced system debt to maximize credit capacity, lower borrowing cost and reduce or eliminate restrictive covenants.Utilized alternative investment products to maximize return and/or control risk.Successfully instituted cash management and investment program for the corporate parent and twelve subsidiaries.Centralized cash management, resulting in lower costs and increased invested balances.Designed master trust custody investment program for system, foundation and pension asset pools, with unique asset allocations and investment policies.Substantially increased return on invested assets.Negotiated sale of unprofitable and/or non-strategic assets to enhance profitability and redeploy assets for strategic expansion of services.Reorganized critical for-profit ventures into a business trust resulting in substantial tax savings.

Brentwood, Tn

Quorum Health Resources was formed in 1989 from the spin off of HCA Management Company by Hospital Corporation of America, was the nation’s largest hospital management and consulting firm.Served as Chief Financial Officer for three contract hospitals in Pennsylvania and Virginia. Responsibilities included financial planning, organization and policy development, and oversight of accounting, budget, reimbursement, insurance, contracts, audit and SEC reporting.KEY PERFORMANCE HIGHLIGHTS INCLUDE: Reorganized the revenue cycle function to speed collections, resulting in lower accounts receivableLed a team to turn around an underperforming hospital resulting in a significant increase in profit margins.