Piedmont Cartersville Medical Center
Cartersville, Bartow County, GA
· CCN 110030
Licensed to Cartersville Medical Center Llc
Composite
55.0
rank score
Distress
42
FY2024
Fit
86
vs thesis
Estimated ticket
$65.0M–$260M
130 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $204M |
| Operating margin | 9.3% |
| Total margin | 10.7% |
| Days cash on hand | 0 |
| Current ratio | 0.78 |
| Occupancy | 83% |
Facility
| Beds | 130 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 119 | $149M | $48.7M | 32.8% | 32.8% | 3 | 0.20 | 81% | 7,670 | 36 |
| 2021 | 119 | $167M | $353M | 37.2% | 77.1% | 3 | 0.20 | 91% | 7,422 | 36 |
| 2022 | 119 | $124M | $6.0M | 3.2% | 4.8% | 228 | 2.12 | 94% | 5,762 | 0 |
| 2023 | 119 | $170M | $-7.8M | -7.1% | -4.5% | 47 | 2.94 | 92% | 7,296 | 51 |
| 2024 | 130 | $204M | $22.1M | 9.3% | 10.7% | 0 | 0.78 | 83% | 8,105 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Piedmont Cartersville Hospital, Inc. | 5% or greater direct ownership interest | 100 | 2021-08 | |
| Piedmont Healthcare Inc | operational/managerial control | 100 | 2021-08 | chain |
| Elizabeth Leddy | corporate officer | 2021-08 | ||
| Lindsay Gard | w-2 managing employee | 2024-01 | ||
| Lori Rakes | w-2 managing employee | 2023-03 | ||
| Michael Mandl | corporate officer | 2021-08 | ||
| Robert Cross | corporate officer | 2021-08 | ||
| Thomas Arnold | corporate officer | 2021-08 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.
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 |