After a year in which the nation’s hospitals struggled both financially and operationally, Clint Matthews has announced his retirement as president and CEO of the Berks County-based Tower Health.
Sue Perrotty, a retired bank executive, has been named as Matthews’ interim replacement. Perotty has been a member of the health network’s board of directors since July 2019.
If the health network needs help shoring up its finances. She would seem to be the person for the job.
According to a press release from Tower, Perrotty brings decades of leadership experience in the banking and finance industries to her new role.
Over the course of her career, Perrotty has overseen multi-billion-dollar corporate integrations, managed several mergers and advised businesses of all sizes in the Reading community, Philadelphia and beyond. The health network said she is a noted expert on corporate governance and serves as an independent director of several businesses, including the publicly traded Global Net Lease Inc.
Perrotty had a 27-year career in banking, culminating in her role as executive vice president and head of global operations for First Union Corp.
“Sue has the unique ability to empower those she works with to think big and achieve things they never would have thought possible. Combined with her listening and tremendous people skills, she makes great things happen,” said Samuel McCullough, former CEO for nearly 20 years of Meridian Bank and current chairman, president and CEO of Griffin Holdings Group LLC. “When we worked together, she was instrumental to our growth and success, and she remains a trusted confidant. Simply put, she always gets the job done and makes those around her better.”
Matthews had been with Tower Health for 10 years, taking over the CEO’s job for the health network from his role as president of its flagship Reading Hospital in West Reading.
Under Matthews, Reading Hospital acquired five hospitals in September of 2017 to become Tower health and he took the lead role in that health network.
Under his tenure, Tower created a partnership with Drexel University to develop a medical school in Reading. The health network also expanded services including the acquisition of 19 urgent care centers in 2018.
COVID-19, however, put a big hit on the health network.
In June it announced it was eliminating 1,000 positions within the health network.
At that time Matthews said that between March and May, the health network experienced a $212 million loss in revenue, roughly 40% of its revenue, because of the suspension of elective procedures caused by the pandemic.
Expenses were also up because of extra personal protective equipment and other pandemic safety protocols.
The health network closed its Pottstown Hospital Maternity Unit and closed or consolidated a number of outpatient services and practices.
Tower Health consists of Reading Hospital in West Reading; Brandywine Hospital in Coatesville; Chestnut Hill Hospital in Philadelphia; Jennersville Hospital in West Grove; Phoenixville Hospital in Phoenixville; Pottstown Hospital in Pottstown; and St. Christopher’s Hospital for Children, a partnership of Tower Health and Drexel University in Philadelphia.
It also includes Reading Hospital Rehabilitation at Wyomissing; Reading Hospital School of Health Sciences in West Reading; home healthcare services provided by Tower Health at Home; and a network of 27 urgent care facilities across the Tower Health service area.