Wrmc Hospital Operating Corporation
dba Wilkes Regional Medical Center ·
North Wilkesboro, Wilkes County, NC
· CCN 340064
Licensed to Wrmc Hospital Operating Corporation
Composite
37.6
rank score
Distress
32
FY2023
Fit
58
vs thesis
Estimated ticket
$7.7M–$15.4M
77 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $143M |
| Operating margin | 3.7% |
| Total margin | 5.6% |
| Days cash on hand | 11 |
| Current ratio | -0.13 |
| Occupancy | 60% |
Facility
| Beds | 77 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 77 | $79.1M | $4.1M | -5.5% | 4.9% | 99 | -0.38 | 42% | 3,256 | 46 |
| 2022 | 77 | $121M | $2.2M | 0.7% | 1.8% | 9 | -0.65 | 52% | 3,048 | 48 |
| 2023 | 77 | $143M | $8.2M | 3.7% | 5.6% | 11 | -0.13 | 60% | 3,940 | 32 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Wake Forest University Baptist Medical Center | 5% or greater direct ownership interest | 100 | 2017-07 | |
| Atrium Health Inc | operational/managerial control | 50 | 2020-10 | |
| Wake Forest University Baptist Medical Center | operational/managerial control | 50 | 2020-10 | |
| North Carolina Baptist Hospital | 5% or greater indirect ownership interest | 40 | 2020-10 | |
| Wake Forest University | 5% or greater indirect ownership interest | 40 | 2020-10 | |
| Atrium Health Inc | 5% or greater indirect ownership interest | 20 | 2020-10 | |
| Advocate Health Inc | operational/managerial control | 2022-12 | ||
| Chad Brown | corporate director | 2019-02 | ||
| Chad Brown | w-2 managing employee | 2019-02 | ||
| Jena Folger | corporate director | 2017-07 | ||
| Kara Richardson | corporate officer | 2026-02 | ||
| Matthew Edwards | corporate director | 2026-03 | ||
| Michael Waid | corporate director | 2017-07 |
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 |