Larry Smith, 2007 “CFO of the Year,” Appointed New Chief Financial Officer of Valley Medical Center

Renton, WA – Valley Medical Center, the largest nonprofit healthcare provider between Seattle and Tacoma, announced today the appointment of Larry Smith as its new Senior Vice President, Chief Financial Officer (CFO).

Mr. Smith, who had been CFO at Phoenix Children’s Hospital in Phoenix, AZ, has worked in a senior executive or CFO capacity for more than 30 years. He is credited with the “financial turnaround” of Phoenix Children’s Hospital – moving it from a $46 million operating loss in 2003 to a $47 million gain in 2007. This effort resulted in Smith being named “CFO of the Year” in 2007 by Financial Executives International.

"We conducted a lengthy nationwide search to find just the right person for the job," said Rich Roodman, Valley Medical Center CEO. "We are excited and feel very fortunate to have Larry Smith in the role of CFO. We’re confident Larry will be vital to helping our Medical Center weather these tough economic times and prosper in the future."

Before joining Phoenix Children’s Hospital, Mr. Smith was CFO for Straub Clinic and Hospital, Inc. in Honolulu, HI where he managed treasury, managed care contracting, information systems, material management, legal and financial operations.

Mr. Smith holds an MBA in from Golden Gate University in San Francisco, CA, and a BA in Accounting from the College of William & Mary in Williamsburg, VA.