Shelley Aronson

Shelley J. Aronson is the President of First River Advisory L.L.C., an independent financial advisory firm which specializes in fashioning capital financing and debt management solutions for health care organizations. �First River Advisory is a Municipal Advisor registered with the Securities and Exchange Commission and the Municipal Securities Rulemaking Board.Since the establishment of First River Advisory in 1995, and in his prior life as an investment banker, Mr. Aronson has developed and implemented capital financing programs for large teaching hospitals, community hospitals, specialty hospitals, critical access hospitals, long-term care organizations and a hospice. �All of First River Advisory�s clients have presented challenging credit profiles. �Many bond issues have been sold in the high-yield market, a sector in which Mr. Aronson has been active since 1990. �Throughout his career, Mr. Aronson has promoted better organization, readability and completeness of clients� primary and secondary market disclosure information for which he has been commended by investment analysts and others on a number of occasions.Prior to forming First River Advisory, Mr. Aronson had a 10�-year stint as an investment banker with Chemical Securities and Manufacturers Hanover Securities Corporation. �Earlier in his career, Mr. Aronson had been associated with the New York State Medical Care Facilities Finance Agency, a major bond issuer, and the Bergen-Passaic (NJ) Health Systems Agency, a regional planning organization.Mr. Aronson is a Director at Large of the National Association of Independent Public Finance Advisors, from which he holds a Certified Independent Public Finance Advisor designation. �He is a member of the Healthcare Financial Management Association and the National Federation of Municipal Analysts. �Mr. Aronson was an active participant on the NFMA task force that developed the Recommended Term Sheet and Legal Provisions for Hospital Debt Transactions, and has moderated several panels at NFMA advanced seminars and at NAIPFA conferences.Mr. Aronson earned both Bachelors and Masters degrees from the University of Pennsylvania in Regional Science (urban and regional economics), with a concentration in urban and regional health care systems. �In addition, he has completed doctorate-level courses in health care policy and planning at New York University.�