Harnett Health System
dba Cape Fear Valley Betsy Johnson Hospital ·
Dunn, Harnett County, NC
· CCN 340071
Licensed to Harnett Health System Inc
Composite
56.6
rank score
Distress
60
FY2023
Fit
74
vs thesis
Estimated ticket
$31.4M–$126M
74 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin under 2%
- 30-60 days cash on hand
- debt above 85% of assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $114M |
| Operating margin | -13.3% |
| Total margin | 0.8% |
| Days cash on hand | 48 |
| Current ratio | 6.07 |
| Occupancy | 78% |
Facility
| Beds | 74 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 126 | $102M | $7.5M | -2.9% | 6.7% | 129 | 1.00 | 45% | 5,439 | 42 |
| 2021 | 126 | $118M | $16.5M | -2.4% | 12.0% | 84 | 1.39 | 57% | 5,343 | 39 |
| 2022 | 126 | $122M | $-5.2M | -8.1% | -4.1% | 21 | 1.20 | 61% | 5,593 | 68 |
| 2023 | 74 | $114M | $1.0M | -13.3% | 0.8% | 48 | 6.07 | 78% | 5,362 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cumberland County Hospital System Inc | 5% or greater direct ownership interest | 100 | 2021-08 | |
| Bret Johnson | corporate officer | 2021-08 | ||
| Cory Hess | corporate officer | 2018-08 | ||
| Eric Truesdale | corporate director | 2021-04 | ||
| James Lewis | corporate director | 2021-04 | ||
| Joseph Fiser | w-2 managing employee | 2021-08 | ||
| Michael Nagowski | corporate director | 2021-08 | ||
| Michael Nagowski | other | 2021-08 | ||
| Milford Quinn | corporate director | 2022-04 | ||
| Neil Emory | corporate director | 2021-04 | ||
| Teddy Byrd | corporate director | 2021-04 | ||
| Terrill Brown | corporate director | 2021-04 | ||
| Walter Massey | corporate director | 2021-04 |
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 |