Kennestone Hospital
dba Wellstar Kennestone Regional Medical Center ·
Marietta, Cobb County, GA
· CCN 110035
Licensed to Kennestone Hospital, Inc.
Composite
15.0
rank score
Distress
26
FY2024
Fit
60
vs thesis
Estimated ticket
$321M–$1.3B
642 beds ·
over envelope
Ownership
government
STH
Why it ranks here
- under 30 days cash on hand
- margin deteriorating
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- very large — likely out of range
- estimated price exceeds the capital envelope
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $1.7B |
| Operating margin | 12.8% |
| Total margin | 20.4% |
| Days cash on hand | 0 |
| Current ratio | 3.20 |
| Occupancy | 100% |
Facility
| Beds | 642 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 642 | $1.2B | $351M | 14.6% | 25.2% | 0 | 1.83 | 89% | 36,638 | 22 |
| 2022 | 642 | $1.3B | $307M | 12.7% | 21.0% | 0 | 3.58 | 89% | 35,780 | 27 |
| 2023 | 642 | $1.5B | $377M | 15.3% | 22.9% | 0 | 5.57 | 90% | 39,868 | 22 |
| 2024 | 642 | $1.7B | $382M | 12.8% | 20.4% | 0 | 3.20 | 100% | 43,121 | 26 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ebenezer Erzuah | w-2 managing employee | 100 | 2009-07 | |
| John Kerndl | corporate officer | 100 | 2025-02 | |
| John Kerndl | w-2 managing employee | 100 | 2025-02 | |
| Joseph Reppert | corporate officer | 100 | 2024-04 | |
| Joseph Reppert | w-2 managing employee | 100 | 2020-08 | |
| Wellstar Health System Inc | 5% or greater direct ownership interest | 100 | 1993-02 | chain |
| David Bottoms | corporate director | 5 | 2023-02 | |
| Edward Richardson | corporate director | 5 | 2019-04 | |
| Frank Ros | corporate director | 5 | 2012-06 | |
| Greg Morgan | corporate director | 5 | 2014-07 | |
| Gretchen Corbin | corporate director | 5 | 2024-10 | |
| Heather Graham | corporate director | 5 | 2025-09 | |
| James Cunningham | corporate director | 5 | 2021-03 | |
| James Holmes | corporate director | 5 | 2016-04 | |
| James Hornsby | corporate director | 5 | 2018-07 | |
| John Mckibben | corporate director | 5 | 2019-08 | |
| Keith Parker | corporate director | 5 | 2023-07 | |
| Mark Berry | corporate director | 5 | 2021-10 | |
| Mitzi Moore | corporate director | 5 | 2014-04 | |
| Orrin Swayze | corporate director | 5 | 2014-07 | |
| Paul Douglass | corporate director | 5 | 2016-08 | |
| William Brock | corporate director | 5 | 2015-07 | |
| Wellstar Health System Inc | operational/managerial control | 2007-11 | chain |
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 |