James J. Mahoney Jr. Elected Chairman

Date: October 20, 2007

BIDMC Contact: M Pantridge
Phone: 781-453-3891
Email: mpantridge@bidneedham.org

James J. Mahoney Jr. has been elected chairman of the Beth Israel Deaconess Hospital-Needham Board of Trustees. He replaces Christoph Hoffmann, who has stepped down after four years.

Mr. Mahoney became a trustee in early 2005 and has served on the Trustees' Finance, Marketing and Development Committees. A Needham resident, he is an investment manager and entrepreneur who serves as a director of numerous corporations and non-profits.

"This is an exciting time to be involved with BID-Needham, as we contemplate the hospital's future, both in terms of its clinical offerings and its facilities," said Mahoney.

"We are thankful for Christoph Hoffmann's years of service, which provided the far-sighted leadership that resulted in our affiliation with Beth Israel Deaconess Medical Center and the integration of key hospital-based services," he added. "My goal is to fully realize the enormous potential of this unique partnership and to ensure that every resident of our service area knows that the highest quality care is available right here where we live."

In addition, James Grasso, another Needham resident who is principal of James Grasso Associates, was elected clerk of the trustees.

Hoffmann, a Needham resident and former senior executive at Raytheon Corp., served as a BID-Needham trustee for 12 years. He continues to serve on the hospital's Patient Care Assessment and Finance committees and as a member of the Board of Advisors.

Mr. Mahoney brings to the hospital's leadership many years of experience as a successful investment manager and entrepreneur. He was co-founder and principal of HLM Management Co., where he oversaw HLM's investments in the healthcare and technology sectors and served as chief investment officer. Mr. Mahoney has also been general partner in the Institutional Services Division of Cowen & Company and a senior management consultant at Touche Ross & Co.

Among Mr. Mahoney's other activities are service as a director of Blessed John XXIII National Seminary, the Equestrian Order of the Holy Sepulchre, Aspect Medical Systems Inc. and Polymedica Inc. He is a former Needham Town Meeting member.