The Oncology Institute (TOI) has revealed a significant change in its executive team, announcing the upcoming departure of chief financial officer Mihir Shah.

Effective 14 October, Shah will leave TOI to explore new opportunities.

Stepping into the role will be Rob Carter, who is currently serving as TOI's finance senior vice president.

Carter has more than ten years of leadership experience in finance within the healthcare sector.

Since joining the institute in 2021, Carter has been instrumental in managing corporate finance, financial planning, and analysis (FP&A), and investor relations.

Some of Carter’s previous roles include overseeing financial planning and analysis at Hoag Health System and holding various financial leadership positions at SCAN Health Plan, Kaiser Permanente, and McKesson.

Carter said: “I’m honoured by the opportunity to serve as the next CFO for The Oncology Institute.

“I believe we have an incredible amount of growth and innovation ahead of us, and I look forward to continue working closely with Dan and the rest of our leadership team to ensure we are delivering value to our patients and payor partners every day.”

Established in 2007, TOI is known for its commitment to advancing oncology care by offering specialised cancer treatments in community settings.

Serving a patient population of more than 1.8 million, TOI provides a range of services, including clinical trials and transfusions, which are typically found in the most advanced care delivery organisations.

It has around 126 clinicians and over 700 team members across more than 70 clinic locations.

TOI CEO Dr Daniel Virnich said: “I’m excited to announce the promotion of Rob to the role of chief financial officer. He brings a wealth of experience in both oncology and large health systems, has been instrumental to our finance operations over the last several years, and is the right leader for the next phase of TOI’s growth.”