# ProMedica Healthcare Retirement Plan

ProMedica Healthcare Retirement Plan is a Pension Fund based in Toledo, United States.

## Overview

- **Organization type:** Pension Fund
- **Headquarters:** Toledo, United States
- **Region:** North America
- **Address:** Toledo, OH, United States
- **Assets under management:** Undisclosed
- **Website:** promedica.org
- **LinkedIn:** https://www.linkedin.com/company/promedica

## Regulatory record

- **Reports private funds:** No

## About

The ProMedica Healthcare Retirement Plan is the defined-contribution vehicle for ProMedica Health System, a nonprofit integrated health system headquartered in Toledo, Ohio. Arturo Polizzi has served as president and CEO of the parent organization, which employs thousands across northwest Ohio and southeast Michigan. While the plan's specific AUM is not publicly disclosed, its sponsor reported total current assets and system-wide revenues of approximately $7 billion in recent years. The Board of Trustees, chaired by former La-Z-Boy CEO Kurt Darrow, oversees governance of both the health system and its affiliated entities, including the retirement plan and the ProMedica Foundation. ProMedica's investment posture is unusual for a healthcare pension fund. Rather than allocating exclusively to public equities and fixed income, the parent system became a significant direct real asset operator through its joint venture with Welltower Inc. — the publicly traded REIT that partnered with ProMedica to acquire the HCR ManorCare portfolio in 2018 for approximately $4.4 billion. That partnership placed ProMedica as the operating partner for over 300 post-acute and senior housing properties across 30 states. A separate joint venture with Emory Healthcare extended skilled nursing operations into Georgia. The retirement plan sits inside a parent organization that behaves less like a passive institutional investor and more like an active healthcare real estate operator — a structure that means plan fiduciaries must navigate the overlapping risks of operating-company performance and retiree obligations. Fidelity Investments administers the 401(k) plan, which covers more than 19,000 current and former employees. The plan includes a company match, though the specific formula is not publicly detailed. Total professional staff dedicated to plan governance is not disclosed. The parent system's headquarters occupies the former Toledo Steam Plant at 100 Madison Avenue — a physical emblem of ProMedica's balance-sheet restructuring, repurposing an industrial asset into administrative space. The ProMedica Foundation, the system's philanthropic arm, operates alongside the retirement plan as a separate nonprofit entity focused on community health grantmaking. ProMedica's decision to tie its operational strategy to a massive real estate joint venture creates a structural differentiator few other healthcare pension sponsors share. Most hospital-system retirement plans sit inside organizations whose balance sheets are dominated by hospital operations and short-term receivables. ProMedica layered on ownership exposure to skilled nursing real estate via a publicly traded REIT partner, making the parent's credit profile — and by extension, the financial stability supporting its retirement obligations — structurally correlated with post-acute care property markets. The separation between the health system's investment committee, the Welltower operating partnership, and Fidelity's plan administration creates a governance triangle that fiduciaries must actively navigate.

## Sectors

- Real Estate
- Healthcare Services

## People

- Arturo Polizzi — President and CEO, ProMedica Health System
- Kurt Darrow — Chairman, ProMedica Board of Trustees
- Michael Bauer — Member, Board of Trustees

## Questions

### How does ProMedica's joint venture with Emory Healthcare fit into its overall investment posture?

The Emory Healthcare skilled nursing joint venture in Atlanta represents a geographic extension of ProMedica's post-acute care operating model, separate from the larger Welltower partnership. Like the Welltower deal, it ties the parent system's capital to operating-company performance in senior care real estate, giving the health system a direct operational role rather than a passive investment stance (per Altss research).

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- [Promecap Capital de Desarrollo](https://altss.com/profile/promecap-capital-de-desarrollo)
- [Proper Financial](https://altss.com/profile/proper-financial)

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

Canonical page: https://altss.com/profile/promedica-healthcare-retirement-plan

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