Frank V. Sacco, President and CEO of Memorial Healthcare System, Announces His Retirement

Frank V. Sacco, who has dedicated 41 years of service to Memorial Healthcare System and 28 years as President and CEO, has recently announced his retirement, effective February 29, 2016. Sacco is credited for leading the growth of Memorial Healthcare System from one hospital to six in South Broward County and building the financial strength of the system with a current net worth of over $1.8 billion – the third largest, public healthcare system in the nation.

 

As Sacco gets ready to exit, Memorial Healthcare System, by all industry standards, remains in strong shape and with a remarkable executive team in place, which has been instrumental to many of Memorial’s successes, including eliminating the use of tax dollars to cover uncompensated care. Currently, the South Broward Hospital District has the lowest millage rate ever recorded in its history and revenues cover only the District’s governmental obligations to the county’s Medicaid Match and other municipality fees. Memorial also remains one of only a handful of public hospitals in the nation to achieve a AA-, Aa3 financial rating by Standard and Poor’s and Moody’s.

 

Today, Memorial’s growth continues through new ventures, developing a clinical integrated network of physicians and other hospitals within the region, while also looking into tele health and other strategic areas of growth in programs such as graduate medical education.

 

“I leave with the joy of knowing that I have used every fiber in my DNA to make Memorial Healthcare System successful now and well into the future,” Sacco said. “As I embark in the next phase of my life, I am leaving the organization in superior condition and in good hands with our Board of Commissioners and our outstanding teams of executives, physicians and staff.”