Trinity Health Mid-Atlantic CEO James L. Woodward Announces Retirement Amid Decrease in Revenue Due to Hospital Sales

James L. Woodward, CEO of Trinity Health Mid-Atlantic, has announced his retirement in January. Woodward joined the Philadelphia region in 2016 as the CEO of St. Mary Medical Center in Langhorne and later took on the role of CEO for a five-hospital group formed by their common owner, Trinity Health, based in Livonia, Michigan. This group was known as Trinity Health Mid-Atlantic and included hospitals such as St. Mary, Nazareth, Mercy Fitzgerald, Mercy Philadelphia, and St. Francis.

In 2020, Trinity Health had originally planned to close Mercy Philadelphia but the hospital was kept open in a modified form by the University of Pennsylvania Health System. Despite this setback, Trinity Health reported $1.1 billion in revenue from its nonprofit, Philadelphia-area hospitals for the fiscal year ending June 30, 2023. This was a decrease from $2.2 billion in revenue reported for fiscal 2018 due to several factors including the sale of Lourdes Health System in South Jersey to Virtua Health in 2019 and St. Francis Medical Center in Trenton sold to Capital Health later closed it.

One of the reasons for this decline in revenue was due to these sales which led to significant changes within their portfolio of hospitals leading to a decrease in overall financial performance over time