Early Life
David Dean Halbert was born in Abilene, Texas, in 1956. Growing up in a family with a strong medical background, his father was a physician, he developed an early interest in business. His grandfather was also in the oil business, and Halbert's ambitions to make it big in the business world started at a young age. He attended Abilene Christian University, graduating with a Bachelor of Business Administration in 1978.
Rise to Success
Halbert's career began in the pharmacy benefits management industry. He founded AdvancePCS in 1987, which quickly grew to become the largest pharmacy benefit manager, serving over 75 million people. He served as Chairman and CEO of the company until it was sold to Caremark in 2004 for $7.5 billion. Following the sale of AdvancePCS, Halbert formed Caris Capital in 2005. In 2008, Halbert acquired Molecular Profiling Institute (MPI), an early-stage life sciences company. MPI was later renamed Caris Life Sciences. Caris Life Sciences has become a leader in molecular science and artificial intelligence, helping over half a million patients worldwide in their battle with cancer.
Key Business Strategies
Halbert's success stems from his ability to identify and capitalize on emerging trends in healthcare. At AdvancePCS, he focused on advancing quality of care while lowering healthcare costs. At Caris Life Sciences, he has pioneered a new era in precision medicine, using sophisticated disease profiling technologies to improve patient outcomes.
Philanthropy
Halbert and his family established the Caris Foundation in 2002, a non-profit that supports impoverished communities by helping to provide for their basic needs. In 2014, the Halberts donated $15 million to Abilene Christian University through the Caris Foundation. In 2017, the Caris Foundation was appointed to lead a $98.5 million investment by USAID to bolster Haiti's health system.