DALLAS, Jan. 9, 2014 /PRNewswire/ -- LHP Hospital Group, Inc. ("LHP"), a privately held healthcare leader established to provide essential capital and expertise to not-for-profit hospitals and hospital systems, today announced that Frederick ("Fred") A. Hessler, who led Citigroup's Not-for-Profit Health Care Investment Banking Group from 1990 to 2013, has been appointed as an independent member of the Company's Board of Directors. Mr. Hessler, whose appointment is effective immediately, will serve as a member of the Board's Audit Committee.
Mr. Hessler brings more than 40 years of healthcare and hospital experience to the LHP Board. He is well-known and nationally respected as a wise, independent, and insightful corporate advisor within the healthcare sector, and has completed acquisition, sale, and merger transactions involving health systems, managed care plans, freestanding hospitals, and ancillary businesses.
Dan Moen, Executive Chairman of LHP's Board of Directors, said, "We are understandably gratified and pleased that Fred will be joining the LHP Board. His deep experience, thorough engagement with the healthcare sector, and industry relationships will be vital assets as we build on existing hospital relationships and seek new ones within the not-for-profit market. It is a tribute to the Company's potential that he has made this commitment to LHP, and we welcome him to the Board."
Mr. Hessler added, "I have known and respected LHP's leadership team for many years. The Company enjoys an enviable and unique position within the evolving not-for-profit hospital market, and I look forward to serving with my new colleagues on the Board."
Mr. Hessler currently serves on the American Hospital Association Operations Committee and chairs its Investment Committee. He also is a Board Member of Surgical Care Affiliates, Inc., The Center for Health Design, the National Center for Healthcare Leadership and the Public Health Institute. He is Past Chair of the Board of Trustees of the Health Research and Education Trust and the Health Insights Foundation. Mr. Hessler was a member of The Center for Healthcare Governance's Blue Ribbon Panel on Trustee Core Competencies and the Healthcare Executives Study Society. He is an active speaker before a considerable array of healthcare organizations and has served as an expert witness to various state and federal agencies while authoring numerous articles on healthcare finance. Prior to joining Citigroup, Mr. Hessler was a Partner and Regional Director for Healthcare at Ernst & Young, where he was responsible for conducting feasibility, corporate reorganization, and strategic planning studies for healthcare clients.
About LHP Hospital Group, Inc.
LHP Hospital Group, Inc. (LHP) is a privately held company established to provide essential capital and expertise to not-for-profit hospitals and hospital systems. In cooperation with local hospitals, LHP forms joint ventures to acquire, own, operate and manage acute care facilities in small cities and select urban markets throughout the United States. Headquartered in Plano, Texas, LHP is owned by affiliates of the private equity firm CCMP Capital Advisors, LLC and the CPP Investment Board as well as certain members of management and the board of directors. For more information, please visit www.lhphospitalgroup.com.
SOURCE LHP Hospital Group, Inc.