Tenet Healthcare CEO Trevor Fetter to step down in March 2018
Multinational US-based Tenet Healthcare has announced that its Chief Executive Officer, Trevor Fetter, will be stepping down within six months, as the company looks for a successor in an attempt to ‘refresh the composition of its board’.
“I would like to thank the Board of Tenet for their confidence and support during my tenure. I am proud of what we accomplished in transforming the company, and strongly believe the 130,000 Tenet employees will continue focusing every day on advancing the company’s mission,” Fetter said.
“I have no doubt that Tenet will be a leading force in creating a better healthcare system and I look forward to assisting during the transition.”
Succeeding Fetter as the senior-most figure at the healthcare services company will be Ronald Rittenmeyer, who will be named as Executive Chairman of the company.
“The changes announced today will ensure Tenet remains focused on providing high quality care to patients, innovating in ways that meet the demands of today’s healthcare market, and driving operational and financial performance in a manner that maximises shareholder value,” Rittenmeyer said.
Fetter has served as CEO for Tenet since 2003, overseeing a large portion of the company’s growth, now possessing 77 acute-care hospitals, 21 short stay hospitals and more than 460 patient centres throughout its network of partners and subsidiaries.
“The Board of Directors thanks Trevor for his significant contributions to Tenet and appreciates his commitment to remain with the company during the transition period,” Rittenmeyer continued.
“During Trevor’s tenure, Tenet has built a strong enterprise that is aligned with the trends driving healthcare, and which provides multiple channels for growth across the company’s Hospital, Ambulatory and Conifer segments.”
Rittenmeyer’s appointment is an inward promotion, with the new Executive Chairman having previously served as the lead director at Tenet, holding a board position at the company since 2010.
Zoom enters the healthcare market - a timeline
Since the pandemic began Zoom has become an integral part of daily life for people working from home, as well as a vital tool for families and friends to communicate. However it's also been eyeing up the healthcare space since 2017, and following the boom in telehealth the company has been rolling out additional services. Here we chart Zoom's move into healthcare.
2011 - 2013
Zoom is founded in San Jose, California, by Eric Yuan, formerly of Cisco. He got the idea to create a video calling platform from his visits to his girlfriend while he was a student, which would take 10 hours by train.
A beta version is released in 2012, which can host up to 15 participants. In 2013 this rises to 25. By mid-2013, Zoom has 1 million users.
2014 - 2017
Zoom attracts investors, including Sequoia Capital, Emergence and Horizon Ventures. By January 2017, Zoom has a series D funding worth $100 million.
2017 - 2019
Zoom for Telehealth launches, including an integration with EHR system Epic. It has cloud-based video, audio, and content sharing features, a "waiting room" for patients, and can easily be integrated into healthcare provider's workflows.
In 2019 Zoom goes public, with its IPO rising 72% in one day.
As a result of the pandemic, Zoom gains 2.2 million new users, more than in the whole of 2019. On the 23rd of March alone - the day the UK lockdown was announced - the platform was downloaded 2.13 million times around the world.
Share prices rise to around $150, and founder and chief executive Eric Yuan becomes one of the world's richest people, with an estimated net worth of $7.9 billion.
Early security issues are addressed by encrypting data with the Advanced Encryption Standard (AES). By now the the platform allows 99 people to be on a call simultaneously
New features launch, including Zoom Home and Zoom for Chats. Throughout the year the platform is used to replace most kinds of real life events: work meetings, online classrooms, church services and social events.
Renamed Zoom for Healthcare, users can share secured video, audio, and content through desktops, mobile phones, and conference devices. As well as Epic, it can be integrated with Strmr, IntakeQ, and Practice Better.
It can also be used with diagnostic cameras and other point-of-care devices, including digital stethoscopes.
In an interview with Korea Biomedical Review, Zoom Global Healthcare Lead Ron Emerson said: "Our service is not simply a virtual care and telemedicine platform but a multi-purpose platform that can satisfy the needs of healthcare institutions."
"It can be used for administrative tasks, including telemedicine, medical team meetings, recruitment, medical education, employee training, and disease prevention. Analysing electronic records managed by Zoom could provide meaningful insights into patient care."
Phoenix Children's Hospital, Belfast's Hospital Services Limited, Butler Health Services and the global Project ECHO are among Zoom for Healthcare's current customers.