Memorial Satilla Health
Waycross, Ware County, GA
· CCN 110003
Licensed to Southeast Georgia Health Services, Llc
Composite
51.7
rank score
Distress
53
FY2023
Fit
70
vs thesis
Estimated ticket
$11.1M–$22.1M
130 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin negative
- total margin negative
- under 30 days cash on hand
- liabilities exceed assets
- occupancy 45-60%
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $124M |
| Operating margin | -1.6% |
| Total margin | -0.6% |
| Days cash on hand | 0 |
| Current ratio | 2.13 |
| Occupancy | 57% |
Facility
| Beds | 130 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 113 | $101M | $-5.0M | -5.8% | -4.9% | 0 | 1.30 | 64% | 6,199 | 71 |
| 2021 | 113 | $115M | $57.4K | -0.9% | 0.0% | 0 | 1.55 | 65% | 6,367 | 52 |
| 2022 | 113 | $111M | $-4.9M | -5.7% | -4.4% | 0 | 2.21 | 60% | 6,323 | 68 |
| 2023 | 130 | $124M | $-756K | -1.6% | -0.6% | 0 | 2.13 | 57% | 6,476 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hca Healthcare Inc | 5% or greater indirect ownership interest | 100 | 2016-10 | |
| Hca Inc | 5% or greater indirect ownership interest | 100 | 2016-10 | |
| Healthtrust Inc - The Hospital Company | 5% or greater indirect ownership interest | 100 | 2016-10 | |
| Hti Hospital Holdings Inc | 5% or greater direct ownership interest | 100 | 2016-10 | |
| Frisco Holding Ii | 5% or greater indirect ownership interest | 16 | 2026-02 | |
| Hercules Holding Ii | 5% or greater indirect ownership interest | 14 | 2016-10 | |
| Damon Barrett | corporate officer | 2025-09 | ||
| Damon Barrett | w-2 managing employee | 2025-09 | ||
| David Wylie | corporate officer | 2025-12 | ||
| David Wylie | w-2 managing employee | 2025-12 | ||
| Eric Smith | contracted managing employee | 2021-03 | ||
| Eric Smith | other | 2021-03 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2017-05-01 | change of ownership | Southeast Georgia Health Services, Llc | Mayo Clinic Health System In... |
Who has been buying in GA
Completed CMS ownership changes in this state. These buyers already cleared the licensure process here — and whoever advised them knows this market.
| Date | Buyer | Seller | Hospital | Beds |
|---|---|---|---|---|
| 2023-11-01 | South Georgia Medical Center Inc | Hospital Authority Of Valdosta And... | South Georgia Medical Center | 261 |
| 2023-11-01 | South Georgia Medical Center Inc | Hospital Authority Of Valdosta And... | Sgmc Berrien Campus | 10 |
| 2023-07-01 | Northeast Georgia Medical Center... | The Hospital Authority Of Habersham County | Ngmc Habersham | 53 |
| 2021-07-03 | Navicent Health Baldwin, Inc | Navicent Health Oconee, Llc | Atrium Health Navicent Baldwin | 86 |
| 2021-06-22 | Burke Hospital Company | Burke County Hospital Authority | Burke Medical Center | 40 |
| 2021-05-01 | Vidalia Health Services, Llc | Meadows Regional Medical Center Inc | Meadows Regional Medical Center | 57 |
| 2018-02-01 | Savannah Health Services, Llc | Memorial Health University Medical... | Memorial Health Univ Med Center | 594 |
| 2017-12-29 | Chi Memorial Hospital - Georgia | Cornerstone Medical Center, Llc | Chi Memorial Hospital - Georgia | 35 |
| 2017-10-01 | Piedmont Rockdale Hospital, Inc. | Rockdale Hospital Llc | Piedmont Rockdale Hospital | 181 |
| 2017-05-01 | Southeast Georgia Health Services, Llc | Mayo Clinic Health System In Waycross, Inc | Memorial Satilla Health | 130 |
| 2017-01-01 | Ngmc Barrow Llc | Winder Hma Llc | Ngmc Barrow | 38 |
| 2016-04-01 | Wellstar Spalding Regional Hospital Inc | Spalding Regional Medical Center, Inc. | Spalding Regional Hospital | 170 |
| 2016-04-01 | Wellstar North Fulton Hospital Inc | North Fulton Medical Center, Inc. | North Fulton Regional Hospital | 178 |
| 2016-02-01 | Prime Healthcare Foundation -... | Southern Regional Health Center, Inc | Southern Regional Medical Center | 233 |
| 2016-01-01 | St Francis Health Llc | St Francis Hospital, Inc. | St. Francis Hospital Inc. | 312 |