Mercy Medical Center Appoints New Chief Financial Officer

Joe Malas brings 30 years of healthcare finance experience to the role.

Published on Feb. 10, 2026

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Mercy Medical Center in Cedar Rapids, Iowa has named Joe Malas as its new executive vice president and chief financial officer. Malas is currently the vice president and chief financial officer at Mercyhealth, a health network with over 85 facilities in Illinois and Wisconsin. He has also previously served as the chief financial officer of Genesis Health System in Davenport, Iowa.

Why it matters

Malas' appointment comes at a pivotal time for the healthcare industry as hospitals and health systems prepare for the implementation of HR1, a major healthcare reform bill. His extensive experience in healthcare finance will be instrumental in helping Mercy Medical Center strengthen its financial position and prepare for future growth and cost improvement initiatives.

The details

In his new role, Malas will be responsible for overseeing Mercy Medical Center's financial strategy and operations. He has over 30 years of experience in healthcare financial leadership, including 18 years in financial leadership roles at an Illinois health system and 5 years as the chief financial officer of Genesis Health System in Davenport.

  • Malas' tenure at Mercy Medical Center will begin on March 30, 2026.

The players

Joe Malas

The new executive vice president and chief financial officer of Mercy Medical Center, bringing 30 years of experience in healthcare financial leadership.

Dr. Timothy Quinn

The president and CEO of Mercy Medical Center, who praised Malas' expertise in healthcare finance and commitment to aligning financial strategy with quality, access, and patient-centered care.

Mercyhealth

A health network with more than 85 facilities in Illinois and Wisconsin, where Malas currently serves as the vice president and chief financial officer.

Genesis Health System

A health system in Davenport, Iowa, where Malas previously served as the chief financial officer for 5 years.

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What they’re saying

“Joe brings deep expertise in healthcare finance and a strong commitment to aligning financial strategy with quality, access and patient-centered care. His leadership will be instrumental as we continue fortifying Mercy's financial strength and advancing our efforts in thoughtful growth and cost improvement, all in preparation for HR1. We are fortunate to welcome him at such a pivotal time in healthcare.”

— Dr. Timothy Quinn, President and CEO, Mercy Medical Center (thegazette.com)

What’s next

Malas will begin his new role at Mercy Medical Center on March 30, 2026, where he will be responsible for overseeing the hospital's financial strategy and operations.

The takeaway

Mercy Medical Center's appointment of Joe Malas, an experienced healthcare finance executive, as its new chief financial officer underscores the importance of strong financial leadership in the industry as hospitals and health systems prepare for major healthcare reforms and focus on improving financial strength, growth, and cost management.