Moses H. Cone Memorial Hospital

Moses H. Cone Memorial Hospital

Moses H. Cone Memorial Hospital opened in 1953, decades after Bertha Cone established a trust to honor her husband, the textile industrialist Moses H. Cone. Today it is the 517-bed flagship of Cone Health, a not-for-profit network serving Guilford, Forsyth, Rockingham, Alamance, and Randolph counties. The hospital functions as a Level II trauma center and the largest facility in its four-county region, anchoring a system that also includes community hospitals, urgent-care centers, and a managed-care health plan. Cone Health's assets extend well beyond hospital operations. The system holds a 51 percent majority interest in HealthTeam Advantage, a Medicare Advantage plan co-owned with Novant Health, and has partnered with the NC A&T Real Estate Foundation to develop The Resurgent, a mixed-use project on East Market Street in Greensboro. Its real estate portfolio includes the MedCenter Greensboro at Drawbridge Parkway, MedCenter Asheboro, and The Village at Brookwood, a residential property in Burlington. An investment portfolio managed at the parent level supplements these direct holdings, though its composition and size remain undisclosed. In December 2024, Risant Health — the Kaiser Foundation Hospitals-backed entity — acquired Cone Health as its second health-system member. The deal placed the hospital under a national platform while preserving a management-services relationship with Atrium Health that has been in place since 2012. Cone Health also participates in graduate medical education through a partnership with the UNC-Chapel Hill School of Medicine, operating the Greensboro Area Health Education Center residency programs. The hospital's legal leadership engages through the American Health Lawyers Association and the North Carolina Society of Health Care Attorneys. The hospital's structure differs from a conventional endowed foundation: it is a going-concern operating business folded into a larger health system, with its philanthropic arm — the Cone Health Foundation — handling community grantmaking separately from the parent investment portfolio. That portfolio coexists with the system's operating assets and real estate, making the hospital a healthcare asset owner whose balance sheet is deployed across service lines, physical plant, and financial investments rather than through a standalone investment office.