North Alabama Specialty Hospital
Athens, Limestone County County, AL
· CCN 012014
Licensed to North Alabama Specialty Hospital
Composite
54.8
rank score
Distress
64
FY2024
Fit
65
vs thesis
Estimated ticket
$7.9M–$31.6M
31 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- 30-60 days cash on hand
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- small but workable bed count
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $10.1M |
| Operating margin | -7.2% |
| Total margin | -1.7% |
| Days cash on hand | 33 |
| Current ratio | 1.97 |
| Occupancy | 46% |
Facility
| Beds | 31 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 31 | $11.3M | $2.1M | 14.2% | 17.9% | 0 | 1.97 | 48% | 193 | 36 |
| 2022 | 31 | $11.8M | $3.2M | 15.7% | 24.3% | 0 | 1.30 | 51% | 204 | 39 |
| 2023 | 31 | $11.2M | $2.2M | 12.3% | 18.6% | 17 | 3.01 | 48% | 208 | 29 |
| 2024 | 31 | $10.1M | $-180K | -7.2% | -1.7% | 33 | 1.97 | 46% | 206 | 64 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Priority Hospital Group Llc | operational/managerial control | 100 | 2023-01 | |
| Healthcare Authority Of Athens And Limestone County | 5% or greater direct ownership interest | 55 | 2023-01 | |
| Priority Hospital Group - Huntsville Llc | 5% or greater direct ownership interest | 45 | 2023-01 | |
| Christopher Wright | 5% or greater indirect ownership interest | 15 | 2023-01 | |
| Douglas H. Beverly Enterprises, Llc | 5% or greater indirect ownership interest | 15 | 2023-01 | |
| Rice Equity Group Llc | 5% or greater indirect ownership interest | 8 | 2023-01 | |
| Douglas Beverly | 5% or greater indirect ownership interest | 8 | 2023-01 | |
| Carol Beverly | 5% or greater indirect ownership interest | 7 | 2023-01 | |
| Rice Business Enterprises Llc | 5% or greater indirect ownership interest | 7 | 2023-01 | |
| Christopher Wright | corporate officer | 2023-01 | ||
| Christopher Wright | corporate director | 2023-01 | ||
| Douglas Beverly | w-2 managing employee | 2023-01 | ||
| Mark Rice | corporate officer | 2023-01 | ||
| Mark Rice | corporate director | 2023-01 | ||
| Suzanne Gras | corporate officer | 2023-01 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.