After stepping down as CEO of Baylor Scott & White Health, Jim Hinton joined a well-known private equity firm focused on healthcare and technology.

Wales, Carson, Anderson and Stowe Announced on Thursday Hinton will join the company as an operating partner of its medical resources group.Hinton Retire on December 31 As the CEO of the largest non-profit medical system in Texas, he has held this position since 2017.

“We are very happy to welcome Jim to the WCAS team and start the next chapter in his career,” Brian Regan, head of the WCAS healthcare team, said in a statement. Press Releases“He has decades of experience in leading major health systems, working with clinicians, and focusing on improving the patient experience, which is extremely valuable to WCAS and our portfolio companies.”

Welsh, Carson, Anderson & Stowe are major players in the healthcare and technology industries, with a total amount of funds raised and managed in excess of US$27 billion in committed capital. In August, his private equity firm Launched a new portfolio company, Valtruis, directs funds to healthcare providers and payers that use a value-based payment model, and has invested $300 million in the joint venture.

“For many years, I have known and respected the WCAS team and look forward to participating in their diverse team of leading healthcare companies,” Hinton said in a new edition. “I am particularly excited about the record of WCAS working with the healthcare system to improve the quality, experience and value of patients.”

Hinton has served as the head of healthcare for 38 years. Before becoming the CEO of Dallas-based Baylor Scott & White, he worked for Presbyterian Healthcare Services in New Mexico for more than 30 years, including 21 years as the CEO. He served as Chairman of the Board of Directors of the American Hospital Association in 2014. Modern Healthcare has ranked Hinton as one of the 100 most influential people in the healthcare field five times. The last time was in 2021.

Under Hinton’s leadership, Baylor Scott & White took a radical approach to outsourcing, firing hundreds of employees and replacing them with employees from third-party companies.The most recently reported example was early last year when the system Cut about 1,700 jobs Covers five areas that can be outsourced: revenue cycle, health information management, information systems, finance and analysis.

Hinton told Modern Healthcare in June that outsourcing can help solve the biggest problem facing healthcare: affordability. His successor Pete McCana declined to say whether outsourcing would continue under his leadership.

During Hinton’s tenure, Baylor Scott & White’s financial situation improved. The operating margin of the system rose from 3.2% in fiscal year 2017 (the year he was at the helm) to nearly 11% in fiscal year 2021, which ended on June 30.