Community Hospital of the Monterey Peninsula (CHOMP)

Community Hospital of the Monterey Peninsula (CHOMP)

Community Hospital of the Monterey Peninsula, universally known as CHOMP, traces its roots to a clinic endowment established by Grace Deere Velie Harris, granddaughter of John Deere. The hospital itself was built on 22 acres of land donated by Samuel Finley Brown Morse in the Del Monte Forest. For decades, its operations and investment posture were guided by Dr. Steven Packer, who served as President and CEO of parent entity Montage Health until his retirement in 2025. The transition to Dr. Mike McDermott marks a generational shift in leadership, though the Investment Committee — which has included figures like Dr. Patrick Welton — provides continuity on asset allocation. CHOMP's investment posture is built around a hybrid real-asset portfolio. The system holds six named commercial properties, including the main hospital campus on Holman Highway, the Peninsula Wellness Center in Marina, and the Ohana Center for Child and Adolescent Behavioral Health — a $100-million-plus behavioral health facility that opened in 2023. On the liquid side, the hospital maintains a formal investment portfolio, though the specific allocation — whether outsourced to an OCIO or run internally, its AUM, and its target asset-class mix — remains undisclosed. The geographic footprint is concentrated in Monterey County, California, with no indication of out-of-state real estate holdings or direct operating investments beyond the immediate region. The adjacent philanthropic vehicle, Montage Health Foundation, serves as the hospital's fundraising arm. March 2025: Mike McDermott, MD succeeded Steven Packer, MD as President and CEO of Montage Health, marking the first leadership transition at the parent entity in over two decades. No public disclosures indicate whether the investment portfolio is managed by internal staff, an external consultant, or a pooled hospital alliance vehicle. Peer community hospitals in California often pool assets through vehicles like the California Health Foundation and Trust, but CHOMP has not confirmed participation in any such arrangement. CHOMP's structural differentiator is its land-grant heritage and the density of its owned real estate in a single coastal ZIP code. Most community hospitals lease their ancillary buildings; CHOMP holds fee-simple title to a campus originally donated by a Pebble Beach developer and seeded by Deere family capital. This history gives its investment committee a long-duration posture — the land is held indefinitely — while the absence of published financial statements means the portfolio's size, liquidity profile, and risk posture remain entirely opaque to outside allocators.