Name: Lisa Foo
Previous title: Executive vice president, commercial operations, Tenet Healthcare
New title: Chief operating officer, Tenet Healthcare
Foo became Tenet Healthcare’s first COO late last month, Tenet said in a Thursday securities filing.
The 34-year-old executive was tapped for the position after serving as Tenet’s executive vice president of commercial operations for three years and its chief commercial and strategy officer for three years, according to an April securities filing. In her most recent role, Foo oversaw enterprise strategy, business development, marketing, data and analytics, and procurement.
Prior to joining Tenet, Foo worked at global management consulting firm McKinsey & Company, where she held a variety of roles.
Last year, Foo received approximately $5.2 million in total compensation from Tenet, including a base salary of $650,000, according to the filing. Tenet has not shared details about Foo’s compensation structure post-promotion.
Foo steps into the COO role as Tenet is focused on growing its ambulatory footprint through mergers and acquisitions. During the company’s last earnings call in April, executives said the system plans to spend $250 million on acquisitions each year moving forward. Tenet is especially interested in securing facilities that can process high-acuity cases.
Foo’s expertise in procurement will also likely take center stage in her early days as COO, as Tenet prepares for the Trump administration to possibly levy higher tariffs on many of its trading partners.
The administration has waffled on its trade policy since April, and it’s still unclear what final levies may be. However, the policies in place thus far are expected to ding hospitals’ bottom lines.
This week, for example, the administration increased steel and aluminum tariffs to 50%. Analysts have previously warned such taxes will cause hospitals’ construction costs to increase.
Tenet executives have assured investors they have their eye on rising supply prices. Tenet is working with their group purchasing organization to prepare for possible price hikes and is also attempting to bring down costs elsewhere on the balance sheet to offset the impact of rising supply costs.
