Adventhealth Hendersonville
Hendersonville, Henderson County, NC
· CCN 340023
Licensed to Fletcher Hospital Inc
Composite
34.0
rank score
Distress
2
FY2023
Fit
78
vs thesis
Estimated ticket
$49.0M–$196M
98 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- occupancy 45-60%
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $277M |
| Operating margin | 4.0% |
| Total margin | 10.8% |
| Days cash on hand | 194 |
| Current ratio | 7.40 |
| Occupancy | 56% |
Facility
| Beds | 98 |
| 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 | 73 | $198M | $16.7M | -5.8% | 7.4% | 301 | 3.83 | 47% | 3,198 | 24 |
| 2021 | 73 | $234M | $25.3M | -1.2% | 9.7% | 318 | 4.25 | 64% | 3,734 | 16 |
| 2022 | 73 | $227M | $-26.3M | -4.1% | -12.5% | 221 | 5.93 | 73% | 4,132 | 32 |
| 2023 | 98 | $277M | $32.2M | 4.0% | 10.8% | 194 | 7.40 | 56% | 4,462 | 2 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adventist Health System Sunbelt Healthcare Corporation | 5% or greater direct ownership interest | 100 | 2021-10 | chain |
| Alan Guyton, Jr | corporate director | 2020-06 | ||
| Amanda Brady | corporate officer | 2020-02 | ||
| Audrey Gregory | corporate officer | 2025-08 | ||
| Audrey Gregory | corporate director | 2025-08 | ||
| Beverly Morgan | corporate officer | 2025-08 | ||
| Daniel Tryon | contracted managing employee | 2025-09 | ||
| Daniel Tryon | corporate officer | 2025-09 | ||
| Daniel Tryon | corporate director | 2025-09 | ||
| Daniel Tryon | operational/managerial control | 2025-09 | ||
| David Huffman | corporate officer | 2020-02 | ||
| Diane Godfrey | corporate officer | 2025-12 | ||
| Douglas Pytlinski | corporate officer | 2026-04 | ||
| Fair Nabers Waggoner | corporate director | 2023-08 | ||
| Haney Vincent | corporate officer | 2021-12 | ||
| Jeffrey Coston | corporate director | 2018-06 | ||
| Jeffrey Garris | corporate director | 2023-01 | ||
| Jeffrey Graff | corporate officer | 2022-08 | ||
| Leslie Louis | corporate director | 2012-03 | ||
| Lewis Sommerville | corporate director | 2023-11 | ||
| Lowell Stewart Griffin | corporate director | 2023-08 | ||
| Lynn Addiscott | corporate officer | 2006-01 | ||
| Marisa Farabaugh | corporate officer | 2026-04 | ||
| Michael Saunders | corporate officer | 2007-02 | ||
| Michael Thompson | corporate officer | 2023-01 |
Showing 25 of 35. Full list via /api/targets/340023.
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 |