Ridgeview announces President & CEO and CFO retirement plans
After more than two decades of dedicated service to Ridgeview, Mike Phelps, President and Chief Executive Officer, has announced his plans to retire on Jan. 2, 2027.
According to Ridgeview Board of Directors Chair Theresa Dalen, Phelps has been an integral part of the organization for 22 years, serving in a variety of leadership roles prior to becoming the CEO almost 10 years ago. “Throughout his tenure, he has led with compassion, integrity and a deep commitment to Ridgeview's mission — enhancing the lifelong health of our people and strengthening the communities we serve,” Dalen said.
Under Phelps’ leadership, Ridgeview has experienced significant growth and transformation as a regional health care system — including doubling in size, in both revenue and assets — and adding 1,000 employees during the past 10 years. Among his many accomplishments, Phelps guided Ridgeview through the extraordinary challenges of the COVID-19 pandemic, ensuring the organization remained strong and sustainable for the future. During his time as CEO, the organization also expanded its reach with exponential growth in specialty services and providers and the opening of the Orthopedic Institute — the first of its kind orthopedics-focused hospital expansion — strengthening Ridgeview’s position as a trusted and nationally recognized provider of high-quality care. Phelps also led the effort to acquire the land on which the Waconia hospital is located — property that had long been owned by the City of Waconia — securing it for the long-term future of Ridgeview and the community.
Equally important during Phelps’ tenure has been his focus on building a strong organizational culture and ensuring the long-term sustainability of Ridgeview as an independent health system. Through thoughtful leadership and strategic decision-making, he helped position Ridgeview in an exceptionally strong financial position, allowing continued investment in patient care, innovation and the people who make achieving Ridgeview’s mission possible.
“On behalf of the Board of Directors, we are deeply grateful for Mike’s extraordinary leadership and the lasting impact he has had on Ridgeview and the greater communities we serve,” Dalen said. “His vision, integrity and commitment to our mission have positioned Ridgeview for continued success well into the future.”
Beyond the walls of Ridgeview, Phelps has been a champion for the health care industry and is recognized as a committed and respected partner in the broader community and statewide. His leadership has helped establish Ridgeview as a vital economic driver in the region, supporting jobs, growth and expanded access to care.
“While his upcoming retirement marks the closure of an extraordinary chapter, the legacy he leaves behind will continue to shape Ridgeview and the greater communities we serve for years to come,” Dalen said.
According to Dalen, Ridgeview’s Board of Directors has begun the process to identify Ridgeview’s next CEO. “The Board has established a selection committee that will guide the CEO search process. The committee will work thoughtfully and diligently to identify the right leader to build upon Ridgeview’s solid foundation that Mike has helped create,” she explained.
CFO Aaron Bloomquist to retire July 3, 2026; Brent Wordelman named new CFO
In addition to President and CEO Mike Phelps’ planned retirement, Ridgeview Chief Financial Officer Aaron Bloomquist has also announced plans to retire after more than six years in the role and a long career in health care leadership across the market, effective July 3, 2026.
Bloomquist has been instrumental in helping Ridgeview make sound business and growth decisions while bringing a high standard to the practices of revenue cycle management and financial discipline. Bloomquist’s knowledge of market dynamics and his creative partnership mindset helped lead to many excellent relationships with collaborators. One of his successes has been building excellent depth in his teams, and in recognition of this comprehensive succession plan, Brent Wordelman, vice president, Finance, will be promoted and serve as Ridgeview’s CFO beginning April 20, 2026.
Wordelman has been a part of Ridgeview’s Financial Leadership team for 12 years, most recently serving as Vice President of Finance. As CFO, he will have responsibility for Ridgeview’s Financial, Revenue Cycle and Treasury services.
Sharing his expertise with the next generation of industry leaders, Wordelman also serves on various boards for Ridgeview’s Joint Ventures and partnerships and recently completed two terms on the Board of Directors — also serving as treasurer — of the Southwest Metro Chamber of Commerce. He also serves as a senior adjunct lecturer in the University of Minnesota’s Healthcare Administration Program.
“These leadership transitions have been responsibly and proactively planned — ensuring that patient care, financial stewardship, strategic initiatives, operations and Ridgeview’s culture continue without disruption, reflecting the strength and depth of Ridgeview’s leadership team,” Dalen added.
