FOR IMMEDIATE RELEASE
2/23/2018 12:00:00 AM
2/23/2018 9:19:06 AM
Trios Health appoints new interim leadership to manage bankruptcy, complete acquisition
Kennewick, Wash. – The Kennewick Public Hospital District Board of Commissioners has appointed two executives to lead Trios Health through the final stages of Chapter 9 bankruptcy proceedings and a potential acquisition. Scott Landrum and Tom Marshall were named interim CEO and interim CFO respectively at the KPHD’s regular board meeting on Thursday evening.
Landrum brings more than 30 years of executive experience in healthcare—much, focused on bringing stability to hospitals and health systems in distress. Marshall, a CPA, has spent nearly four decades working in the healthcare industry on turnarounds, mergers and acquisitions, and startups. Both gentlemen are employed by Quorum Health Resources, the consulting firm hired by the Board of Commissioners to provide analysis of the health system’s finances, operations, and management.
“Trios Health has made tremendous progress in its bankruptcy proceedings and talks with RCCH Healthcare Partners the last few weeks,” said Marvin Kinney, board president. “These two gentlemen (Landrum and Marshall) are our ‘closers,’ having direct and relevant experience in finalizing bankruptcies and transactions. They will see us through this final chapter.”
Mark Armstrong, who has worked with Trios Health since the Board hired Quorum in 2016, was named interim CEO earlier this month to bridge the short gap between Craig Cudworth’s departure and Landrum’s appointment. Armstrong will remain closely involved as Landrum transitions in and through Trios Health’s exit from bankruptcy and acquisition.
Interim CFO Mike Rolph, who took over for Tony Sudduth in early February, unexpectedly departed Trios Health for personal/familial reasons. As a consultant, Marshall picked up where Rolph left off.
“We appreciate the community’s continued support and understanding as we navigate bankruptcy and acquisition. There are a lot of moving parts, but things are lining up for a great outcome,” Kinney added. “It’s important that Tri-Citians know we remain committed to continuing to serve them well into the future.”