Johnston Health
dba Unc Health Johnston ·
Smithfield, Johnston County, NC
· CCN 340090
Licensed to Johnston Health Services Corporation
Composite
37.0
rank score
Distress
15
FY2024
Fit
71
vs thesis
Estimated ticket
$89.5M–$358M
179 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- 30-60 days cash on hand
- part of a multi-hospital chain — divestiture candidate
- 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
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $357M |
| Operating margin | 9.4% |
| Total margin | 9.0% |
| Days cash on hand | 36 |
| Current ratio | 1.93 |
| Occupancy | 62% |
Facility
| Beds | 179 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| 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 | 179 | $270M | $14.1M | 5.4% | 5.0% | 72 | 1.21 | 69% | 11,434 | 13 |
| 2022 | 179 | $292M | $7.3M | 3.3% | 2.4% | 56 | 1.57 | 72% | 11,473 | 17 |
| 2023 | 179 | $332M | $19.2M | 9.6% | 5.6% | 76 | 1.44 | 72% | 12,054 | 13 |
| 2024 | 179 | $357M | $34.3M | 9.4% | 9.0% | 36 | 1.93 | 62% | 13,579 | 15 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| University Of North Carolina Health Care System | 5% or greater direct ownership interest | 100 | 2025-07 | chain |
| University Of North Carolina Health Care System | operational/managerial control | 100 | 2014-02 | chain |
| Benjamin Mathew | corporate director | 2023-02 | ||
| Carolyn Ellis | w-2 managing employee | 2014-12 | ||
| David Mills | corporate director | 2018-11 | ||
| Hasan Baloch | corporate director | 2025-11 | ||
| Jeffrey Parlier | corporate director | 2020-11 | ||
| Kevin Cielinski | corporate officer | 2022-04 | ||
| Lacey Barnes | corporate director | 2023-10 | ||
| Lori Martin | w-2 managing employee | 2014-02 | ||
| Marilyn Pearson | corporate director | 2018-03 | ||
| Michael Setliff | corporate director | 2024-11 | ||
| Patricia Jones | corporate director | 2020-11 | ||
| Richard Alioto | corporate director | 2024-10 | ||
| Robert Oakes | corporate director | 2019-11 | ||
| Rodney Mccaskill | corporate director | 2021-03 | ||
| Shawn Beane | w-2 managing employee | 2022-04 | ||
| Teddy Godwin | corporate director | 2017-02 | ||
| Tommy Williams | corporate officer | 2019-12 | ||
| Tracey Carson | corporate officer | 2025-12 | ||
| William Massengill | corporate director | 2020-11 |
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 |