Health

Former CEO Baylor Scott & White moves to Welsh, Carson, Anderson & Stowe

Immediately following his departure from his position as CEO of Baylor Scott & White Health, Jim Hinton joins a renowned private equity firm specializing in healthcare and technology.

Welsh, Carson, Anderson and Stowe announced on Thursday that Hinton will join the firm as an operating partner in its Healthcare Resources Group. Hinton retired on December 31 as CEO of Texas’ largest nonprofit health care system, which he has held since 2017.

“We are thrilled to welcome Jim to the WCAS team for the next chapter of his career,” said Brian Regan, head of the WCAS Health Team. news release… “His years of experience leading large healthcare systems, partnering with clinicians and focusing on improving patient care will be incredibly valuable to WCAS and our portfolio companies.”

Welsh, Carson, Anderson & Stowe is a major healthcare and technology player that has raised and managed over $ 27 billion in equity capital. In August, his private equity firm launched a new portfolio company, Valtruis, which directs money to healthcare providers and payers using value-based payment models, and pledged an initial $ 300 million into the venture.

“I have known and respect the WCAS team for many years and look forward to participating in their diverse group of leading healthcare companies,” Hinton said in a new release. “I am particularly encouraged by WCAS’s track record of collaborating with healthcare systems to improve quality, quality and value for patients.”

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Hinton spent 38 years as a healthcare executive. Prior to becoming CEO of Dallas-based Baylor Scott & White, he worked for Presbyterian Healthcare Services in New Mexico for over three decades, including as CEO for 21 years. He was the chairman of the board of the American Hospital Association in 2014. Hinton has been named one of the 100 Most Influential People in Healthcare by Modern Healthcare five times, most recently in 2021.

Under Hinton’s leadership, Baylor Scott & White has taken an aggressive stance against outsourcing, laying off hundreds of employees and replacing them with third-party workers. The most recent publicly released example occurred early last year, when the system cut about 1,700 jobs in five areas that could be outsourced: the revenue cycle, health information management, information systems, finance and analytics.

Hinton told Modern Healthcare in June that outsourcing is helping solve the biggest challenge healthcare faces: affordability. His successor, Pete McCann, then declined to say if outsourcing would continue under his leadership.

Baylor Scott & White’s finances have improved during the Hinton administration. The system’s operating margin declined from 3.2% in fiscal 2017 – the year he took over at the helm – to nearly 11% in fiscal 2021, which ended June 30.


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