Jefferson extends CEO Joseph Cacchione’s contract through 2029
CEO Joseph Cacchione's current contract at Thomas Jefferson University ran through 2027.
Thomas Jefferson University, which owns Jefferson Health, extended CEO Joseph G. Cacchione’s contract through 2029, the Philadelphia nonprofit announced Wednesday. Cacchione’s current contract was set to expire at the end of 2027.
Cacchione, 63, came to Jefferson in September 2022 from Ascension, a large Catholic healthcare system, where he had been executive vice president for clinical and network services. Cacchione is a cardiologist who received his medical degree from Hahnemann University.
The executive’s biggest move since arriving at Jefferson was last year’s acquisition of Lehigh Valley Health Network, which expanded Jefferson’s reach in Pennsylvania as far north as Scranton. The system also owns hospitals in South Jersey.
“Dr. Cacchione has not only skillfully guided Jefferson through one of the most transformative periods in our more than 200-year history but has also positioned us as a national leader in healthcare innovation, education, and community engagement,” Patricia D. Wellenbach, chair of the Thomas Jefferson University’s board of trustees said in a news release. “We are thrilled that he will continue to lead Jefferson into our third century.”
Jefferson operates 32 hospitals, including those that are part of joint ventures. The nonprofit is expected to have $15 billion in revenue in the fiscal year that ends June 30.
Cacchione has largely revamped top management at Jefferson, including a few hires from Ascension, his former employer. A new chief financial officer, Michael P. Harrington, is scheduled to start next month. Hamilton is succeeding John Mordach, who left abruptly in February.