Indiana University Health is losing its chief financial officer, who has overseen the hospital system’s bulging balance sheet since 1999.

Marvin Pember, 58, is taking a new job near Philadelphia as the president of the acute care division of Universal Health Services Inc., a publicly traded company with 22 acute hospitals and numerous behavioral health centers spread from coast to coast.

Pember’s last day at IU Health will be July 29. IU Health, an 18-hospital system based in Indianapolis, will began a national search for his replacement immediately.

“Marvin has been an integral member of the IU Health team for the last 12 years, and his expertise in finance and health care has contributed greatly to our organization’s growth, success and strong financial positioning,” said Dan Evans, CEO of IU Health, in a prepared statement.

Pember joined IU Health, then known as Clarian Health, when it had just three hospitals—Methodist, Indiana University Hospital and Riley Hospital for Children—all in downtown Indianapolis. Today, its hospitals stretch from LaPorte and Goshen in northern Indiana to Paoli and Bedford in the south. IU Health also has three more facilities set to join its fold by year’s end.

Pember, named by IBJ as the 2009 CFO of the Year for not-for-profit organizations, helped the hospital network improve its information technology systems and expand use of electronic medical records by its hospitals and doctors. You can find an indepth video interview with Pember here.

Prior to his time at IU Health, Pember was senior vice president and general manager of Cerner Corp., a maker of electronic medical records and senior vice president of Finance at Baptist Medical Center. He is a graduate of Kellogg School of Management at Northwestern University.

You can read more about his career here.