Palmetto Health

The legacy Palmetto Health portfolio was folded into Prisma Health's consolidated treasury in 2017. The combined pool operates as a health-system operating balance sheet — short-duration fixed-income, money market instruments, and direct real estate — rather than a total-return endowment model. Capital allocation is governed by Prisma's board finance committee with external consultant support.

No. Palmetto Health ceased to exist as a standalone legal entity upon merging with Greenville Health System to form Prisma Health in November 2017. The legacy hospitals — including Prisma Health Richland, Baptist, and Tuomey — now operate under the Prisma brand, and all investment activity flows through Prisma's centralized treasury function.

Prisma Health's pool is an operating-company balance sheet, not a perpetual endowment. It prioritizes liquidity and capital preservation to support bond covenants, payroll, and capital projects across 29 hospitals. Allocations skew toward cash, Treasuries, agency debt, and investment-grade corporates, with modest commitments to healthcare-sector private funds — a posture aligned with nonprofit hospital credit-rating maintenance rather than absolute-return seeking.

Palmetto Health was the dominant hospital operator in South Carolina's Midlands region from its 1998 formation through 2017, anchored by Richland Memorial Hospital and later Palmetto Health Baptist. At the time of the merger, it contributed roughly $2B in annual operating revenue and served as the region's largest private employer alongside BlueCross BlueShield of South Carolina.

Yes, limited exposure. Prisma Health has committed capital to healthcare-focused venture and growth equity funds, including participation in the Heritage Healthcare Innovation Fund. These allocations are modest relative to total pool size — health system treasuries typically cap illiquid commitments at single-digit percentages to maintain bond-rating metrics.