The University of Pennsylvania has extended the contract of its health system CEO Kevin Mahoney through June 2031.
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Mahoney became CEO in July 2019, and “only a few months later, helped lead Penn Medicine through the COVID-19 pandemic, which changed the face of healthcare,” Jonathan A. Epstein, dean of Penn’s Perelman School of Medicine, said in an email Thursday evening to medical school and health system leaders.
“Since that time, Kevin has kept Penn Medicine moving forward despite a rapidly changing healthcare landscape by expanding access points, building a sustainable talent pipeline, and advocating for safer, more supportive care environments for clinicians and staff,” said Epstein, who is also a university executive vice president with responsibility for the nonprofit health system.
Mahoney’s current contract was due to end next June. He has worked at Penn for almost 30 years.
After the pandemic, he launched a framework called Repair–Refocus–Reimagine to reduce costs and boost revenue, with the goal of getting back to 4% operating profit margins. A key role for the health system within the larger university is to financially support medical education and research.
Since Mahoney became CEO, Penn completed construction of the $1.6 billion Hospital of University of Pennsylvania patient tower in University City, now called the Clifton Center for Medical Breakthroughs.
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In West Philadelphia, Mahoney led a consortium that maintained healthcare services at the former Mercy Philadelphia Hospital, which Trinity Health Mid-Atlantic had decided to close.
Penn acquired Doylestown Health last year, increasing the number of hospitals Penn owns to seven.
Mahoney also has continued the system’s outpatient push, with a $270 million site in Montgomeryville scheduled to open late next year.
The health system had almost $12 billion in revenue in the year that ended June 30, 2025, up from $7.6 billion in fiscal 2019.
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