Amid an increasingly complex environment for providing healthcare, Northwestern Memorial’s ongoing success is rooted in our ability to plan for the future while maintaining a clear focus on our mission, to be an “academic medical center where the patient comes first.”

Fiscal year 2007 was a time of significant achievement for Northwestern Memorial. Our most visible accomplishment was the on-time and on-budget completion of the new Prentice Women’s Hospital, which opened to patients on October 20, 2007. Nearly eight years of planning, design and construction were invested in the new Prentice, our second state-of-the-art hospital on the Northwestern medical campus in less than 10 years. Yet, when we consider this organizational milestone, we are mindful that the bricks, stone and steel are not what distinguish us as a healthcare leader. It is the work of our physicians and nurses, employees and benefactors, board members and friends throughout the community that bring these magnificent facilities to life for our patients.

Together with our campus partners, we continue to develop prominent clinical programs in the areas of cardiovascular care, solid organ transplantation, neurosciences, oncology, orthopaedics and women’s health. We have enhanced our Long Range Quality Plan to ensure we maintain our position as a national leader in quality and patient safety. Our achievement of a three-year accreditation from The Joint Commission demonstrates our commitment to the highest standards of care. And, once again, we are proud to be ranked by Chicagoans as their “most preferred” hospital, with the best doctors, best nurses and best overall quality of care.

Our disciplined approach to long-range financial planning allows us to advance our Patients First mission beyond the investment in facilities, equipment and staff. Our steadfast commitment to the community is demonstrated through partnerships with neighborhood-based medical providers, youth

development activities and programs that provide financial assistance to the most in need. In fiscal year 2007 alone, we provided $265.8 million in charity care, other unreimbursed care and community benefit.

As we look ahead, we do so with confidence. We are in the midst of an era of unprecedented collaboration with our campus partners to accelerate Northwestern’s reputation as a Great Academic Medical Center. Along with Northwestern University’s Feinberg School of Medicine, Children’s Memorial Hospital and the Rehabilitation Institute of Chicago, our efforts are contributing to new ideas in clinical innovation, medical education and scientific research to benefit patients for years to come.

As our momentum continues to build, we are encouraged by the enthusiasm that has been created through the strategic alignment of these strong institutions to advance our individual and collective missions and serve our communities.