Southern Regional Medical Center
Riverdale, Clayton County, GA
· CCN 110165
Licensed to Prime Healthcare Foundation - Southern Regional Llc
Composite
49.4
rank score
Distress
47
FY2023
Fit
70
vs thesis
Estimated ticket
$116M–$466M
233 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size at the top of the envelope — would need leverage
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $139M |
| Operating margin | 4.1% |
| Total margin | 6.2% |
| Days cash on hand | 5 |
| Current ratio | -0.97 |
| Occupancy | 38% |
Facility
| Beds | 233 |
| 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 | 244 | $123M | $18.5M | -4.5% | 12.6% | 31 | 3.62 | 42% | 7,310 | 38 |
| 2021 | 244 | $118M | $945K | -11.4% | 0.7% | 29 | 3.66 | 39% | 6,429 | 59 |
| 2022 | 244 | $106M | $-24.2M | -25.3% | -22.1% | 7 | 3.14 | 37% | 6,979 | 72 |
| 2023 | 233 | $139M | $8.8M | 4.1% | 6.2% | 5 | -0.97 | 38% | 6,644 | 47 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Prime Healthcare Foundation Inc | 5% or greater direct ownership interest | 100 | 2016-02 | |
| Prime Healthcare Services, Inc | 5% or greater indirect ownership interest | 100 | 2016-02 | |
| Christopher Doan | corporate officer | 2017-07 | ||
| Michael Davis | corporate officer | 2023-02 | ||
| Michael Davis | corporate director | 2023-02 | ||
| Michael Davis | w-2 managing employee | 2023-02 | ||
| Steven Aleman | corporate officer | 2020-06 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2016-02-01 | change of ownership | Prime Healthcare Foundation -... | Southern Regional Health Center, Inc |
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 |