HCA Healthcare Inc. will soon have a new senior vice president in its finance department, replacing a long-time executive who’s headed to one of Nashville’s newest investment firms.
According to an internal memo obtained by the Business Journal, HCA veteran John Hackett has been promoted to treasurer and senior vice president of finance for the hospital giant, effective Jan. 1.
Hackett has worked in HCA’s finance department for more than two decades, according to the memo, and has led multiple financing transactions.
He succeeds current HCA Treasurer and SVP of Finance Will Morrow, who will become a partner at Nashville-based private equity firm Whistler Capital Partners LLC. Whistler focuses on investments in the health care space and has more than $1 billion of assets under management.
HCA (NYSE: HCA) is Nashville’s largest publicly traded company and the nation’s biggest hospital operator, with $51.5 billion of revenue in 2020. The company operates 183 hospitals across 20 states and the United Kingdom.
“I wanted to let you know that Will Morrow has notified us that he will be leaving HCA Healthcare to take a position with a newly formed private equity group. … Please join me in wishing Will continued success in this new chapter of his career,” HCA Chief Financial Officer Bill Rutherford wrote in the memo. “I am pleased to announce that John Hackett has been promoted to Treasurer and Senior Vice President of Finance effective January 1st. John has been a leader in the company’s Corporate Finance Department for over 25 years. He has been heavily involved with our corporate activities and planning over that time, including leading multiple financing transactions and building strong relationships with our key banking partners and rating agencies. The company remains in a very strong financial position relative to our capital structure and capacity, and I look forward to working with John and the Treasury Team to continue to drive long term value for HCA Healthcare.”
Morrow is a prime-time addition for Whistler, which was formed in October after completing a spin out from Starr Investment Holdings LLC. He joined HCA in 2011 in its special assets group before being named treasurer and SVP of finance in 2016, according to the memo. Morrow oversaw the treasury department during a period in which HCA “executed several long term financing deals” and received an upgrade to its credit rating from Moody’s.
“Will brings a wealth of leadership experience and uncompromising commitment to elevating health care businesses to Whistler Capital,” Whistler Partner Geoff Clark said in a statement. “We are delighted to partner with him to enable and empower innovation in health care.”