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Penn State Health names Peter Ostasewski medical group CFO

Peter Ostasewski has been named vice president and chief financial officer for Penn State Health Medical Group, effective Dec. 19.

“Pete brings impressive credentials and experience to Penn State Health, having held senior leadership roles with numerous health care organizations and medical centers over nearly three decades,” said Paula Tinch, executive vice president, finance, and chief financial officer for Penn State Health. “A decorated U.S. Army veteran and former critical care nurse, he has consistently demonstrated excellence in meeting the challenges of the ever-changing health care and financial environments.”

At Penn State Health, Ostasewski will be responsible for the medical group’s financial performance, including accounting and reporting, operational and capital budgets, financial forecasts, benchmarking and the financial aspects of strategic and other operational initiatives.

He most recently served as vice president of finance and chief financial officer for MedStar Medical Group, the integrated provider organization for MedStar Health, a not-for-profit health care organization whose operations include 10 hospitals in the Baltimore-Washington area. Before that, he was system vice president of operations finance with UPMC Central Pennsylvania Region following the affiliation between UPMC and PinnacleHealth System in Harrisburg. He previously served as corporate vice president of operations finance with PinnacleHealth.

Prior roles include that as chief financial officer with Tenet Physician Resources for Tenet Healthcare Corp. and director for operational finances and associate chief financial officer with Nemours/Alfred I. duPont Hospital for Children and Nemours/duPont Pediatrics. He earlier was financial performance manager at the Wilmington, Delaware, children’s hospital.

In addition, Ostasewski has significant experience as chief executive officer for a managed care-related organization and as a nurse with several Baltimore-region health care organizations and hospitals. While an Army Airborne Ranger, he served with an evacuation hospital in Seoul, Korea, as well as a battalion evacuation officer and as a special operations combat medic. He received numerous military decorations and awards for his service.

Having graduated from the U.S. Army Ranger School, Fort Benning, Georgia, he trained as a licensed practical nurse at Fort Sam Houston and earned his bachelor’s degree in nursing from the University of Maryland. He also holds an MBA from Loyola University Maryland.

Ostasewski has served on numerous professional and community boards and volunteered with United Way. A volunteer, vocalist and musician with his church, he also is a former squadron officer with the Civil Air Patrol, Boy Scout troop leader and high school varsity lacrosse coach.

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