Appling General Hospital
dba Appling Healthcare System ·
Baxley, Appling County, GA
· CCN 110071
Licensed to The Baxley And Appling County Hospital Authority
Composite
58.9
rank score
Distress
86
FY2024
Fit
50
vs thesis
Estimated ticket
$2.4M–$4.8M
34 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current liabilities exceed current assets
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $28.5M |
| Operating margin | -22.0% |
| Total margin | -9.6% |
| Days cash on hand | 7 |
| Current ratio | 0.83 |
| Occupancy | 7% |
Facility
| Beds | 34 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 34 | $28.9M | $5.4M | -34.0% | 12.3% | 74 | 1.28 | 28% | 438 | 50 |
| 2022 | 34 | $28.0M | $-1.9M | -23.3% | -5.8% | 58 | 1.15 | 20% | 302 | 69 |
| 2023 | 34 | $27.4M | $-1.9M | -23.7% | -5.9% | 3 | 0.91 | 6% | 185 | 80 |
| 2024 | 34 | $28.5M | $-3.0M | -22.0% | -9.6% | 7 | 0.83 | 7% | 224 | 86 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Andrea Graham | w-2 managing employee | 100 | 2021-07 | |
| Andrea Graham | operational/managerial control | 100 | 2021-07 | |
| Cindy Tomberlin | corporate director | 100 | 2021-07 | |
| Andrea Graham | corporate director | 2021-07 | ||
| Paul Rentz | corporate director | 2013-08 | ||
| The Baxley And Appling County Hospital Authority | operational/managerial control | 2007-11 |
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 |