Photo / Courtesy MaineHealth
Richard Bayman
December 12, 2024
MaineHealth's next CFO has experience in both health care and financial services
Portland-based MaineHealth, Maine’s largest health care system, has hired Richard Bayman as its next chief financial officer, effective in early January.
Bayman will succeed Al Swallow, who announced his retirement earlier this year after 30 years with MaineHealth.
In this new role, Bayman will oversee MaineHealth's financial positioning and sustainability, lead efforts to integrate the health system further, advance payer strategy and relations and support MaineHealth’s growth strategies and innovation initiatives.
“I am honored to join MaineHealth at such a pivotal moment in its journey,” said Bayman. “The organization’s vision and values resonate deeply with me, and I am eager to collaborate with the talented finance team, executive leadership and board of trustees to further strengthen MaineHealth as it pursues its vision of working together so our communities are the healthiest in America.”
Bayman brings more than two decades of experience as a strategic advisor to not-for-profit health care organizations to the role. He has worked in several fields, including healthcare strategy, financial advisory, capital formation and mergers and acquisitions.
He has worked in health care systems across the country, including Henry Ford Health System in Detroit, Baptist Health in Louisville, Ky., Seattle Children’s Hospital in Seattle and Prisma Health in Greenville, S.C. Most recently, Bayman served as managing director of Cincinnati-based Fifth Third Bank’s Healthcare Investment Banking Group, where he led the health systems and higher education practice.
Prior to joining Fifth Third, he was a co-founder of H2C Securities and a managing director at Shattuck Hammond Partners. His early career included roles at SG Cowen & Company and GE Capital.
Bayman received his bachelor’s degree in economics from the University of Connecticut and a master’s in business administration from Emory University’s Goizueta School of Business.
“Rich’s experience and collaborative leadership style make him uniquely qualified to guide MaineHealth through the evolving financial and strategic challenges facing health systems,” said Andy Mueller, CEO of MaineHealth. “He has a proven track record of building trusted relationships and delivering strategic insights that align with our commitment to providing exceptional care to the communities we serve.”
MaineHealth has more than 23,000 employees, including more than 2,000 physicians and advanced practice professionals across more than 250 practice locations.
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