Friday, July 15, 2011

Spiros Hatiras CEO Out at HUMC

Here is the latest development at the HUMC. Management shakeup is usually part of a transitional sale that involves a merger. This should come with little surprise.


CEO Spiros Hatiras Steps Aside; Chief Financial Officer Vincent Riccitelli to Assume Role

The Hoboken Municipal Hospital Authority (HMHA) announced today that Spiros Hatiras has stepped down as Chief Executive Officer (CEO) of Hoboken University Medical Center (HUMC) by mutual agreement with HMHA.

HMHA thanks Mr. Hatiras and wishes him well in his future endeavors. He will be pursuing other professional opportunities after he spends time with his father who is in failing health.

Mr. Vincent Riccitelli, currently the acting Chief Financial Officer at HUMC, has agreed to serve as acting CEO. He will remain in this capacity until the sale of HUMC is complete. At that time, it is anticipated that a new CEO will be named by HUMC Holdco.

“During this transitional period, Mr. Riccitelli will work closely with Hoboken Mayor Dawn Zimmer, HMHA and me to help employees and residents understand the importance of completing the sale to HUMC Holdco, under common ownership of the principals of Bayonne Medical Center,” says Toni Tomarazzo, HMHA chairperson. “We will continue to engage these key constituents to ensure they understand that this change of ownership is the only way to save the hospital.”

“We are close to completing the sale of our hospital to HUMC Holdco,” adds Riccitelli. “This agreement will lead to long-term benefits for our staff and our community. Our new owner has access to capital to attract and retain quality health care providers, finance improvements, initiate new program development, acquire advanced technology, and maintain the hospital as the life saving acute care unit that we and the citizens of Hoboken deserve. The Mayor and HMHA have worked tirelessly to save our hospital and I’m honored to be part of the team that will help complete the transaction.” ◦