# Catholic Medical Center (CMC)

Catholic Medical Center (CMC) is an Endowment / Foundation based in Manchester, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Manchester, United States
- **Region:** North America
- **Address:** 100 McGregor Street, Manchester, NH 03102, United States
- **Founded:** 1892
- **Assets under management:** Undisclosed
- **Website:** catholicmedicalcenter.org
- **LinkedIn:** https://www.linkedin.com/company/catholic-medical-center

## Regulatory record

- **Reports private funds:** No

## About

The Catholic Health Care Foundation of Greater Manchester was established following the 2025 sale of Catholic Medical Center's operating assets to HCA Healthcare for $110 million. The transaction, which transferred the acute-care hospital to the for-profit health system, effectively ended CMC's direct role as a provider and birthed a grantmaking entity designed to carry its charitable mission forward. Bishop Peter A. Libasci oversees the Catholic identity of the new foundation, while former CMC CEO Alex Walker serves as its first Executive Director. As an endowment, the Foundation deploys capital rather than operating hospital beds. The asset base originates from the monetization of the main campus at 100 McGregor Street and contiguous real estate holdings — including a former Rite Aid property and mixed-use units along the same corridor. Grantmaking priorities align with Catholic Charities New Hampshire and the legacy of CMC's community health programs, focusing on social determinants of health across Greater Manchester. The Foundation emerged from a specific corporate event in 2025 when HCA Healthcare completed the acquisition of CMC's operating assets. That transaction is the entire corpus. The Foundation inherited not only the sale proceeds but also the real estate portfolio left behind — including the McGregor Street office building and a heliport parcel — creating a dual revenue stream from investment returns and potential property monetization. What distinguishes the Catholic Health Care Foundation from a standard community foundation is its singular origin event. Most conversion foundations have decades to evolve a grantmaking identity; this one began operating in 2025 with a discrete pool of capital, a defined geographic mandate in Manchester, and a governance structure tethered to the Diocese. How the Foundation resolves the tension between preserving corpus for perpetuity and deploying meaningful grants in its first five years will define its institutional character — a question that hangs over every newly capitalized endowment and one that Alex Walker, as its first steward, will directly answer.

## Sectors

- Healthcare Services
- Real Estate

## People

- Alex Walker — Executive Director, Catholic Health Care Foundation of Greater Manchester (former CEO, CMC)

## Questions

### What exactly is the Catholic Health Care Foundation of Greater Manchester?

It is a newly formed endowment created from the $110 million sale of Catholic Medical Center's hospital assets to HCA Healthcare in 2025. The Foundation does not operate a hospital — it is a charitable grantmaker that deploys the proceeds from that transaction to support community health initiatives in the Manchester area. Its creation represents a structural conversion from operating healthcare provider to philanthropic asset owner.

### Who runs the Foundation and makes investment decisions?

Alex Walker, the former CEO of Catholic Medical Center, is the Foundation's first Executive Director. The governance structure places oversight of the Foundation's Catholic identity with the Bishop of Manchester, Peter A. Libasci. Investment committee composition and the day-to-day delegation of asset management authority have not been publicly disclosed.

### How is the Foundation related to Catholic Medical Center today?

The Foundation is Catholic Medical Center's successor in mission but not in operations. CMC's hospital business was sold to HCA Healthcare in 2025 and now operates as a for-profit entity. The Foundation retained the charitable purpose and the capital from the sale but is legally and operationally separate from the hospital itself.

### What is the Foundation's relationship with HCA Healthcare?

HCA Healthcare is the buyer, not a partner. The $110 million transaction transferred CMC's hospital operations to HCA, and the Foundation was capitalized with those proceeds. The relationship is historical and transactional — there is no known ongoing governance or investment connection between the Foundation and HCA.

### What does the Foundation grant to?

Grantmaking priorities center on community health and social determinants of health in Greater Manchester, continuing the charitable tradition of Catholic Medical Center. The Foundation collaborates with Catholic Charities New Hampshire on community health and social services, and its Catholic identity, overseen by the Diocese, shapes its funding guidelines. Specific grants awarded to date have not been publicly reported.

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Last updated: 2026-08-11T02:43:31.692Z

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