John R. Boehm
Karen Teitelbaum
Karen Teitelbaum is stepping down as CEO of Sinai Chicago, the city’s largest private safety-net hospital system, effective Dec. 31.
To ease the leadership transition, Teitelbaum will serve as senior executive consultant through June 2022, the hospital system said in a statement today. It will conduct a nationwide search to select a new CEO, with the goal of naming a replacement by year’s end, said Sinai Board Chair Vince Williams.
“This was a tremendously difficult decision, as it has been my deep honor and privilege to be in leadership at Sinai Chicago for 15 years,” Teitelbaum said in the statement. “As I turn the reins over to a new leader, I am proud and confident that our work continues, our dedication remains strong and our mission has never been more important.”
Teitelbaum, 64, who also serves as chair of the Illinois Health & Hospital Association’s Board of Trustees, has led the four-hospital network since 2014. She took the helm following the acquisition of Holy Cross Hospital on the city’s Southwest Side, and has guided the organization through big shifts in healthcare delivery, as well as the COVID-19 pandemic.
Earlier this year, Teitelbaum announced the culmination of a two-year effort to rebrand Sinai Health System as Sinai Chicago, which also includes Mount Sinai Hospital, Sinai Children’s Hospital and Schwab Rehabilitation Hospital. The move aims to differentiate the network from Mount Sinai in New York and Sinai Health System in Canada.
As CEO, Teitelbaum has helped turn around hospital system finances, taking the organization from a loss of $42 million to a profit of $32.6 million and boosting philanthropy to $13.5 million annually, the statement says.
Last year, as COVID spread, Teitelbaum detailed plans to spend about $40 million moving some outpatient services into a new mixed-use development across from its flagship hospital. The Ogden Commons project in North Lawndale aims to improve access to healthcare services and provide employment and economic opportunities for community members.
Prior to taking the top spot, Teitelbaum served as Sinai’s executive vice president and chief operating officer for nearly seven years, focusing on strengthening operations, quality, safety and business development. She previously served as vice president of operations and chief business development officer at Swedish Covenant Hospital.
In addition to leading Sinai and sitting on the boards of Advantia Health and Blink Science, she serves as a senior advisor for TVM Capital Healthcare, a private-equity investment firm, according to her LinkedIn page.
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