# Novant Health

Novant Health is an Endowment / Foundation based in Winston-Salem, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** Winston-Salem, United States
- **Region:** North America
- **Address:** 2085 Frontis Plaza Boulevard, Winston-Salem, North Carolina, United States
- **Founded:** 1997
- **Assets under management:** 3388 (Altss estimate)
- **Website:** novanthealth.org
- **LinkedIn:** https://www.linkedin.com/company/novanthealth

## Regulatory record

- **Reports private funds:** No

## About

Novant Health was established in 1997 as an integrated not-for-profit health system. Carl S. Armato serves as President and CEO. The system maintains three regional foundations that direct community benefit spending. The investment program allocates 13.58% to private equity and maintains a hedge fund book valued at approximately $300.5M. Direct holdings include hospitals such as Novant Health Forsyth Medical Center and Novant Health Presbyterian Medical Center. Geographic exposure centers on North Carolina and South Carolina, with additional positions in South Carolina hospitals acquired from Blue Cross and Blue Shield of South Carolina. Co-investments occur through Novant Health Enterprises in early-stage health technology companies including Optain and Judi Health. The organization employs 41,000 people and operates additional offices in Charlotte and Wilmington. Foundations reported $1.6B in total community benefit in 2024. In 2024 Novant Health acquired UCI Medical Affiliates, expanding its South Carolina footprint. Novant Health maintains a hybrid structure that combines direct ownership of clinical real estate and operating companies with limited partner commitments to external funds. This architecture allows the system to control key facilities while accessing third-party investment expertise through its Chief Investment Officer.

## Sectors

- Healthcare

## People

- Carl S. Armato — President and CEO
- Syed Haque — Chief Investment Officer

## Questions

### Who runs investment decisions at Novant Health?

Syed Haque serves as Chief Investment Officer. Carl S. Armato holds the role of President and CEO.

### Does Novant Health participate in fund commitments or only direct deals?

The system commits to private equity and hedge funds while also making direct investments through Novant Health Enterprises.

### What asset classes appear in the portfolio?

Allocations include private equity at 13.58%, hedge funds valued near $300.5M, and direct real estate holdings.

### Where does Novant Health maintain its primary geographic footprint?

Operations and investments concentrate in North Carolina and South Carolina.

### How is the investment program governed relative to clinical operations?

The program sits within the corporate entity and reports through the Chief Investment Officer while supporting the overall mission of the health system.

## Related profiles

- [Twin Bridge Capital Partners](https://altss.com/profile/twin-bridge-capital-partners)
- [Beaumont Financial Partners](https://altss.com/profile/beaumont-financial-partners)

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Last updated: 2026-06-03T20:00:00.000Z

Canonical page: https://altss.com/profile/novant-health

Maintained by Altss — https://altss.com — methodology: https://altss.com/methodology