Early Life
David Dean Halbert was born in Abilene, Texas, in 1956. Growing up in a family with a strong healthcare background, his father was a physician. Halbert's upbringing instilled in him a sense of stewardship and a commitment to using his resources effectively. He attended Abilene Christian University, graduating with a Bachelor of Business Administration in 1978. His Christian faith has been a guiding force in both his personal and professional life, shaping his approach to business and philanthropy.
Rise to Success
Halbert's entrepreneurial journey began in 1987 when he founded AdvancePCS, a pharmacy benefit management company. He served as Chairman and CEO, leading the company to become a publicly traded, Fortune 250 corporation with over $15 billion in annual revenue. AdvancePCS was later sold to Caremark in 2004 for $7.5 billion. Following the sale, Halbert formed Caris Capital in 2005, an investment firm where he managed and sold over $1.2 billion in assets.
In 2008, Halbert acquired Molecular Profiling Institute (MPI), an early-stage life sciences company. Renamed Caris Life Sciences, the company has become a leader in molecular science and artificial intelligence, focusing on precision medicine to improve cancer care. Caris Life Sciences went public in June 2025.
Key Business Strategies
Halbert's business strategies are centered around innovation and a patient-first approach. He emphasized the power of molecular research and AI in cancer diagnostics and treatment. Caris Life Sciences made the decision in 2018 to run every gene on every cancer patient, creating a large-scale clinico-genomic database to analyze and understand the complexity of diseases. This data-driven approach allows the company to identify unique ways to deal with each type of cancer.
Philanthropy
Halbert and his wife, Kathy, are committed philanthropists. They established the Caris Foundation in 2002, which supports communities in Africa and Haiti by addressing their basic needs. Through the Caris Foundation, they have provided medical care, support for hospitals, mentorship, and education programs. In 2014, they made a $15 million donation through the Caris Foundation to Abilene Christian University, contributing to the Halbert-Walling Research Center and Wildcat Stadium.
