Group Health announced today the hiring of Chris Knackstedt as CFO. Knackstedt joins Group Health after having been CFO at MultiCare Health System in Tacoma.

As CFO of Group Health, Knackstedt is responsible for operations of a nearly $4 billion annual gross revenue system, including Group Health’s health care and coverage services.

“The Board of Directors and I are thrilled Chris has joined the organization and confident in his abilities,” said Group Health President and CEO Scott Armstrong. “It’s great to have Chris on our leadership team and we’re excited about the immediate alignment he has brought to the table through his direct experience in helping lead fully integrated health care systems.”

“Chris has the skill set that Group Health’s innovative structure requires, and I’m certain he will help further enhance the financial health of the organization,” added Jim Truess, Group Health’s former interim CFO.

In his previous role with MultiCare, Knackstedt was responsible for operations of the $1.8 billion not-for-profit health care organization, which has more than 9,100 employees and a network consisting of five hospitals and integrated physicians throughout Pierce, South King, Thurston and Kitsap counties.

Prior CFO duties for Knackstedt elsewhere in the country have included Mercy Health in Springfield, Mo., a $1.9 billion integrated health system spanning parts of Missouri, Arkansas and Kansas; St. Anthony Health System, a not-for-profit network of health facilities in Colorado; and, Sierra Providence Health Network in Texas.