Senior Executive Leadership
Michael J. Mandl
Executive Vice President, Piedmont Healthcare
Michael J. Mandl joined Piedmont Healthcare in March 2018 as the system’s executive vice president, responsible for executing Piedmont’s strategic agenda and overseeing a broad range of system functions, including corporate development, finance, strategy and planning, real estate, supply chain, government and community affairs, and philanthropy. In this role, he serves as Piedmont’s number two executive after the CEO.
Mandl’s deliberate approach and focus on Piedmont’s growth strategy, including its approach to each component of the continuum of care has contributed to the company’s delivery of care to communities in which 85% of Georgians reside. During his tenure at Piedmont, Mandl led the restructuring of Piedmont’s urgent care partnership with Four Winds Health to create a new joint venture, Piedmont Urgent Care by WellStreet, with Piedmont holding both 50 percent equity and governance rights. Simultaneously, this new joint venture acquired the Summit Urgent Care network and is still growing, creating the largest urgent care network in Georgia. He also led the development of a new partnership with OrthoAtlanta, which includes a professional services agreement (PSA), partial ownership in two surgery centers, and full ownership of MRI and physical therapy services, as well as other strategically important features. In 2020, Mandl spearheaded the formation of a "50/50" joint venture with Encompass Health and currently serves as founding Chairman of the Board for Piedmont Encompass Rehabilitation Hospitals LLC, a statewide JV of comprehensive inpatient rehabilitation facilities. This JV has embarked on an ambitious expansion plan to provide much needed, high quality, comprehensive inpatient rehabilitation services to Piedmont communities across Georgia.
Most recently, Mandl led the deal negotiation, due diligence, and bond financing teams for Piedmont’s largest acquisition to date – 4 hospitals and associated healthcare clinics, surgery centers and practicing physicians – from HCA in 2021. This acquisition added over 800 beds and nearly 3,500 employees, expanding Piedmont’s reach by adding a key Clinical Hub in Macon along with hospitals and healthcare facilities in Cartersville and Gwinnett County. Valued at approximately $950M, this deal was negotiated, financed, and closed within 8 months of the commencement of HCA’s divestiture process. The Finance team led by Mandl brought the $1 billion-dollar taxable debt issuance to market in less than 145 days from signing the definitive agreement and 45 days subsequent to closing the purchase transaction. It was the single largest debt issuance in Piedmont’s long history and was accomplished while maintaining Piedmont’s A1 & AA- bond ratings by Moody’s and S&P respectively and lowered Piedmont’s overall full debt portfolio total cost of capital by approximately 50 basis points.
In addition to leading strategic growth efforts, Mandl has strengthened the focus of the company’s strategic planning and corporate development model by integrating the operating entities, physician organization and system offices into a unified team, which has demonstrated its value in expansion, integration, and effectiveness. In doing this, he has instilled a sense of respect and cooperation among the various organizational components of the company and fostered a very effective “operating company” balance between local market “autonomy” and corporate driven strategy and investment.
Mandl has been a key strategic partner to the System CEO and entity CEOs in helping steer the company through the COVID crisis. He is currently working with the System CEO and Chief HR Officer to address the extraordinarily challenging labor market, including compensation and an out of balance supply and demand marketplace.
Prior to joining Piedmont, Mandl co-founded and served as president and chief executive officer of Mandl & Co., an Atlanta-based business advisory firm dedicated to advancing the mission of universities and medical centers by unlocking asset equity to increase investable resources. He also served as the executive vice president and enterprise chief business officer for Emory University, including Emory Healthcare. At Emory, he oversaw major functions, including finance/investments, information technology, human resources, real estate, campus planning, audit, and business process improvement. Mandl led the executive team charged with re-positioning Emory Healthcare and served as its CEO during an interim period from March 2015 to September 2015. Earlier in his career, Mandl served in executive roles at Duke University, the University of Pennsylvania, Glaxo Pharmaceuticals and KPMG.
In addition to his executive roles, Mandl’s Board Governance roles have included chairing the Boards of Emory Healthcare, Emory Innovations, Inc., EmTech, and the captive insurance company, Clifton Casualty. Mandl has also served as a board member for The Midtown Alliance, YMCA of Metro Atlanta, Fernbank Museum of Natural History, Georgia State Properties Commission (which required an appointment from the governor) and ZOE International.
Mandl earned a master’s degree in liberal studies from Duke University and a bachelor’s degree with distinction from George Washington University. He and his wife, Nancy, have been married for 36 years. When not in Atlanta, Mike and Nancy like to spend time at their farm in North Carolina and condo on Palm Beach. They are the parents of two adult children (a son and a daughter), who reside in Charlotte, NC and New York City, respectively.
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