Rowan Regional Hospital
dba Novant Health Rowan Medical Center ·
Salisbury, Rowan County, NC
· CCN 340015
Licensed to Novant Health Rowan Medical Center Llc
Composite
58.9
rank score
Distress
73
FY2023
Fit
65
vs thesis
Estimated ticket
$12.7M–$25.3M
181 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $300M |
| Operating margin | -6.0% |
| Total margin | -6.4% |
| Days cash on hand | 0 |
| Current ratio | -0.59 |
| Occupancy | 71% |
Facility
| Beds | 181 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 189 | $233M | $227K | -5.9% | 0.1% | 0 | -0.36 | 68% | 9,214 | 61 |
| 2021 | 189 | $270M | $8.2M | -3.5% | 2.9% | 0 | -0.33 | 74% | 8,377 | 51 |
| 2022 | 189 | $261M | $11.6M | -12.0% | 3.8% | 0 | -0.57 | 66% | 7,630 | 63 |
| 2023 | 181 | $300M | $-19.2M | -6.0% | -6.4% | 0 | -0.59 | 71% | 8,712 | 73 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Novant Health, Inc. | 5% or greater direct ownership interest | 100 | 2008-01 | |
| Bruce Jones | corporate director | 2020-01 | ||
| Chetan Amin | corporate director | 2024-01 | ||
| David Smith | corporate director | 2017-01 | ||
| Dawn Mcnair | corporate director | 2025-01 | ||
| Edward Wagoner | corporate director | 2019-01 | ||
| Elia Gegorek | corporate director | 2021-01 | ||
| Emily Fink | corporate director | 2025-01 | ||
| Eugene Eline | corporate director | 2023-05 | ||
| Gary Blabon | corporate officer | 2019-06 | ||
| Gary Blabon | w-2 managing employee | 2019-06 | ||
| Gavin Misner | corporate director | 2019-05 | ||
| Hope Oliphant | corporate director | 2025-01 | ||
| Jennifer Ward | corporate director | 2024-01 | ||
| John Everett | corporate director | 2018-01 | ||
| Jonathan Williams | corporate director | 2025-01 | ||
| Mary Ponds | corporate director | 2017-01 | ||
| Michelle Patterson | corporate director | 2017-01 | ||
| Perry Hood | corporate director | 2019-01 | ||
| Rowan Health Services, Llc | 5% or greater direct ownership interest | 2008-01 | ||
| Wayne Cline | corporate director | 2023-01 |
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 NC
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 |
|---|---|---|---|---|
| 2026-02-01 | Atrium Health Hospitals Inc | The Charlotte-Mecklenburg Hospital... | Atrium Health Lincoln | 101 |
| 2026-02-01 | Atrium Health Hospitals Inc | The Charlotte-Mecklenburg Hospital... | Atrium Health Cleveland | 308 |
| 2025-07-01 | Atrium Health Hospitals Inc | The Charlotte-Mecklenburg Hospital... | Atrium Health Stanly | 97 |
| 2025-07-01 | Atrium Health Hospitals Inc | The Charlotte-Mecklenburg Hospital... | Atrium Health Anson | 15 |
| 2025-04-01 | Duke Health Lake Norman Regional... | Mooresville Hospital Management... | Lake Norman Regional Medical Center | 123 |
| 2024-03-02 | North Carolina Baptist Hospital | Davie Medical Center | North Carolina Baptist Hospital | 813 |
| 2021-10-01 | Pitt County Memorial Hospital Inc | East Carolina Health-Beaufort Inc | Pitt County Memorial Hospital Inc | 1,013 |
| 2021-10-01 | American Healthcare Systems Llc | Randolph Hospital, Inc. | American Healthcare Systems | 145 |
| 2021-02-01 | Novant Health New Hanover Regional... | New Hanover Regional Medical Center | New Hanover Regional Medical Center | 771 |
| 2019-02-01 | Mh Mission Hospital, Lllp | Mission Hospitals Inc. | Mission Hospital Inc | 717 |
| 2019-02-01 | Mh Mission Hospital Mcdowell, Lllp | The Mcdowell Hospital Inc | The Mcdowell Hospital | 33 |
| 2019-01-01 | The Charlotte-Mecklenburg Hospital... | Mercy Hospital Inc | Atrium Health Pineville | 352 |
| 2018-01-01 | Unc Rockingham Health Care Inc | Morehead Memorial Hospital | Unc Rockingham Hospital | 108 |