North Fulton Regional Hospital
dba Wellstar North Fulton Hospital ·
Roswell, Fulton County, GA
· CCN 110198
Licensed to Wellstar North Fulton Hospital Inc
Composite
44.9
rank score
Distress
30
FY2024
Fit
78
vs thesis
Estimated ticket
$89.0M–$356M
178 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- debt above 70% of assets
- margin deteriorating
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $374M |
| Operating margin | 5.4% |
| Total margin | 8.8% |
| Days cash on hand | 0 |
| Current ratio | 2.47 |
| Occupancy | 83% |
Facility
| Beds | 178 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 169 | $239M | $35.3M | 5.2% | 13.5% | 0 | 1.71 | 68% | 7,615 | 30 |
| 2022 | 178 | $274M | $18.0M | 1.8% | 6.3% | 0 | 3.66 | 74% | 7,864 | 33 |
| 2023 | 178 | $320M | $31.4M | 6.6% | 9.5% | 0 | 3.13 | 81% | 9,650 | 27 |
| 2024 | 178 | $374M | $34.3M | 5.4% | 8.8% | 0 | 2.47 | 83% | 9,743 | 30 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Anthony Budzinski | corporate officer | 100 | 2016-04 | |
| Candice Saunders | corporate officer | 100 | 2016-04 | |
| Ebenezer Erzuah | w-2 managing employee | 100 | 2015-04 | |
| James Swartz | w-2 managing employee | 100 | 2016-04 | |
| Wellstar Health System Inc | 5% or greater indirect ownership interest | 100 | 2016-04 | |
| Arif Aziz | corporate director | 5 | 2019-07 | |
| David Bottoms | corporate director | 5 | 2023-02 | |
| Edward Richardson | corporate director | 5 | 2019-04 | |
| Frank Ros | corporate director | 5 | 2016-04 | |
| Greg Morgan | corporate director | 5 | 2016-04 | |
| Hiram Burdette | corporate director | 5 | 2016-04 | |
| 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 | |
| Mark Berry | corporate director | 5 | 2021-10 | |
| Mitzi Moore | corporate director | 5 | 2016-04 | |
| Orrin Swayze | corporate director | 5 | 2016-04 | |
| Paul Douglass | corporate director | 5 | 2016-08 | |
| William Brock | corporate director | 5 | 2016-04 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2016-04-01 | change of ownership | Wellstar North Fulton Hospital Inc | North Fulton Medical 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 |