# Southcoast Health System

Southcoast Health System is an Endowment / Foundation based in New Bedford, United States.

## Overview

- **Organization type:** Endowment / Foundation
- **Headquarters:** New Bedford, United States
- **Region:** North America
- **Address:** New Bedford, MA, United States
- **Founded:** 1996
- **Assets under management:** Undisclosed
- **Website:** southcoast.org
- **LinkedIn:** https://www.linkedin.com/company/southcoast-hospitals-group

## Regulatory record

- **Reports private funds:** No

## About

Southcoast Health System formed in 1996 through the merger of three long-standing community hospitals serving the South Coast region of Massachusetts. The non-profit system is the dominant healthcare provider for New Bedford, Fall River, and Wareham, operating Charlton Memorial Hospital, St. Luke's Hospital, and Tobey Hospital. David McCready, who stepped into the President and CEO role in January 2024, leads the organization alongside EVP and COO Renee Clark and CFO Wade Broughman. The system's governance is overseen by a Board of Trustees chaired by Donald Giumetti. Non-profit health systems of Southcoast's scale typically allocate 60–75% of investment reserves to growth-oriented assets, with the remainder in fixed income and cash to support operating liquidity. Southcoast's physical plant includes the Alden Court Nursing Facility in Fairhaven, the Southcoast Health Surgery Center in Dartmouth, and a medical office building in Fall River — representing a substantial real estate component alongside the flagship hospitals. The system participates in industry networks including the Massachusetts Health & Hospital Association and the American Hospital Association, which facilitate shared learning on treasury and investment practices among peer institutions. McCready's tenure began in early 2024, succeeding a period of leadership transition at the organization. No publicly reported totals exist for the system's investment portfolio or liquid reserves. Southcoast's operating revenues exceed $1 billion, providing the financial base that generates investable reserves. Southcoast's structure is a community-based non-profit health system with no academic medical center anchor — a model that distinguishes its investment posture from research-driven systems like Mass General Brigham. The investment portfolio serves as a risk buffer and capital reserve, not a discretionary family fortune. Governance falls to a community board, and the mandate prioritizes liquidity and capital preservation to support the clinical enterprise, with any excess returns reinvested into facilities, technology, and service-line expansion across the South Coast region.

## Sectors

- Healthcare Services

## Offices

- Fall River, MA
- Wareham, MA
- Fairhaven, MA
- Dartmouth, MA

## People

- David McCready — President and CEO
- Wade Broughman — Treasurer and EVP Finance & CFO
- Renee Clark — EVP and Chief Operating Officer
- Donald Giumetti — Chair of the Board of Trustees

## Questions

### Does Southcoast Health System manage a formal endowment or a general operating reserve?

Southcoast operates a general investment portfolio that functions as a quasi-endowment — it is not a legally restricted permanent endowment but rather the system's long-term reserves. These assets provide operating liquidity, capital for facility investment, and a financial buffer against reimbursement volatility. The system does not publicly disclose the size or composition of these reserves.

### Which hospitals and facilities fall under Southcoast Health System?

The system includes three acute-care hospitals: Charlton Memorial Hospital in Fall River, St. Luke's Hospital in New Bedford, and Tobey Hospital in Wareham. Post-acute and outpatient holdings include the Alden Court Nursing Facility in Fairhaven, the Southcoast Health Surgery Center in Dartmouth, and a medical office building in Fall River.

## Related profiles

- [South Downs National Park Authority (SDNPA)](https://altss.com/profile/south-downs-national-park-authority-sdnpa)
- [Southern Company Post-Retirement Benefit Plan](https://altss.com/profile/southern-company-post-retirement-benefit-plan)

---

Last updated: 2026-08-11T02:43:31.692Z

Canonical page: https://altss.com/profile/southcoast-health-system-shs

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