Hackensack Meridian Health Announces Michael Allen as New President, Financial Services Division and Chief Financial Officer
October 28, 2024
Hackensack Meridian Health (HMH) today announced the appointment of Michael Allen, MHA, CPA, FHFMA, as President, Financial Services Division and Chief Financial Officer, effective December 9, 2024. Allen will succeed Bob Glenning, President, Financial and Digital Technology Services Divisions and Chief Financial Officer, who is retiring after 18 years with HMH.
Allen will oversee the financial services, revenue operations, purchasing and materials management, and investment management teams. In this role, Mike will manage HMH’s short- and long-term financial plans, serve as a strategic business partner to the CEO, and advise the board of trustees on all financial-related matters.
"I am thrilled to welcome Mike to Hackensack Meridian Health," said Robert C. Garrett, FACHE, CEO of Hackensack Meridian Health. "His extensive experience and proven track record of success make him the ideal leader for our financial services team and to shape our network’s future strategy and growth agenda.”
Allen brings over 35 years of experience in business and healthcare, including 28 years as a CFO for health systems. He most recently served as CFO of OSF Healthcare System, where he oversaw all financial operations and led a team of 1,600 finance professionals. During his tenure, he also served as a voting committee member of the $250 million venture fund OSF Ventures, which achieved an impressive internal rate of return exceeding 25% on portfolio exits.
“I would also like to thank Bob Glenning for his years of exemplary service to HMH,” said Garrett. “Our network is in its strong position today because of Bob’s financial acumen and visionary leadership. Bob is more than just a CFO; he was integral in forming our network and the Hackensack Meridian School of Medicine. Bob is an invaluable partner and cherished friend, and I wish him well in his retirement.”
Allen holds a Master's Degree in Healthcare Administration from the University of Minnesota and a Bachelor of Science from Illinois State University. He is a dedicated volunteer leader for the Healthcare Financial Management Association, recently serving as Chair of the Board.
"I am honored to join Hackensack Meridian Health and contribute to its continued success," said Allen. "I look forward to working with the talented team at HMH to build upon its strong financial foundation and drive future growth."