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Baylor Scott & White Health
Formed in 2013 through the merger of Baylor Health Care System and Scott & White Healthcare, the Dallas-headquartered system operates as a faith-based,...
Baylor Scott & White Health
Formed in 2013 through the merger of Baylor Health Care System and Scott & White Healthcare, the Dallas-headquartered system operates as a faith-based, non-profit health organization. Its roots trace back to 1903 as a Christian ministry of healing. Today it generates over $15.5 billion in annual operating revenue, making it one of the largest health systems in the United States by total assets. The investment strategy spans direct real estate holdings, joint-venture hospital partnerships, and a venture portfolio managed through internal allocation to external managers. The system's footprint includes 55 owned, joint-ventured, and affiliated hospitals, more than 1,300 access points, and over 7,200 active physicians. Confirmed co-investment partners include Tenet Healthcare (five-hospital joint venture in North Texas), Surgery Partners (The Physicians Centre Hospital), and Select Medical (inpatient rehabilitation hospitals). The venture program targets early and expansion-stage health-tech companies aligned with the system's clinical operations. The system reported $17.5 billion in total assets and $15.5 billion in total operating revenue as of fiscal 2025. It includes 30 ambulatory surgery centers, 62 urgent care clinics, and a captive health plan — Baylor Scott & White Health Plan — alongside Levanto, a digital health product company. In 2024, the system generated more than 13.5 million patient encounters. Baylor Scott & White also maintains three affiliated foundations: the Baylor Scott & White Dallas Foundation, the Central Texas Foundation, and the All Saints Health Foundation. Unlike a traditional endowment, Baylor Scott & White's investment function is inextricably linked to its operating business — a permanent-capital structure that pairs clinical delivery with balance-sheet investing. This integrated model allows the system to co-invest alongside its joint-venture partners in physical infrastructure such as the Sports Therapy and Research Center at The Star in Frisco with the Dallas Cowboys, while simultaneously running a separate venture allocation to capture innovation that feeds back into its clinical engine.
General information
Firm type
Endowment / Foundation
Year founded
2013
Location
Region
North America
Country
United States
City
Dallas
Corporate office
3500 Gaston Ave, Dallas, Texas, United States
Principals
Pete McCanna
Chief Executive Officer
Sector focus
Frequently asked questions
Who runs investment decisions at Baylor Scott & White Health?
Investment oversight sits with the system's investment office, which functions as an internal asset manager for the organization's $17.5 billion in total assets (per firm website, 2026). The office allocates across direct real estate, joint-venture partnerships, and a venture portfolio of external funds.
Is Baylor Scott & White Health structured as a single family office or does it operate more like a venture firm?
It is neither. It operates as a large, not-for-profit health system with an internal investment function that manages balance-sheet assets. Its investing posture resembles a hybrid of a permanent-capital vehicle and a corporate venture arm, allocating directly into operating partnerships and externally into venture funds.
Does Baylor Scott & White participate in fund commitments or only direct deals?
Both. The system co-invests directly in hospital joint ventures with partners like Tenet Healthcare and Surgery Partners. It also maintains a venture allocation that commits to external funds targeting early and expansion-stage health-technology companies.
What sectors does Baylor Scott & White explicitly avoid?
No formal sector exclusions are published. However, as a faith-based, not-for-profit health system, its investment activity concentrates on real estate and health-tech adjacent to its clinical mission. There are no known direct allocations to traditional oil and gas or large-scale public equities portfolios.
How is Baylor Scott & White related to its joint-venture partners?
It operates several named joint ventures: a five-hospital partnership with Tenet Healthcare in North Texas, The Physicians Centre Hospital with Surgery Partners, and inpatient rehabilitation facilities with Select Medical. It also partners with the Dallas Cowboys on the Sports Therapy and Research Center at The Star in Frisco.
Where does the underlying wealth come from?
Unlike a family office, the system is a non-profit entity without a single wealth origin. Its asset base accumulates through patient-service revenue — $15.5 billion in total operating revenue (per firm website, 2024) — and philanthropic contributions through its three affiliated foundations.
Does Baylor Scott & White maintain philanthropic structures, and how are they separated?
Yes. Three separate foundations support the system: Baylor Scott & White Dallas Foundation, Central Texas Foundation, and All Saints Health Foundation. These entities fund community health initiatives and capital campaigns while remaining legally distinct from the investment office.
Profile maintained by Altss using OSINT (open-source intelligence), regulatory filings, licensed data partners, and verified direct submissions. Read the methodology. Last updated: . Continuous refresh with full update cycles at least every 30 days.
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