Hugh Chatham Memorial Hospital
Elkin, Surry County, NC
· CCN 340097
Licensed to Hugh Chatham Memorial Hospital Inc
Composite
53.2
rank score
Distress
71
FY2023
Fit
53
vs thesis
Estimated ticket
$5.7M–$11.3M
81 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $112M |
| Operating margin | -25.1% |
| Total margin | -3.8% |
| Days cash on hand | 0 |
| Current ratio | 1.90 |
| Occupancy | 37% |
Facility
| Beds | 81 |
| 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 | 81 | $94.6M | $12.9M | -13.8% | 10.7% | 13 | 1.29 | 43% | 3,565 | 59 |
| 2021 | 81 | $113M | $33.7M | -5.0% | 22.1% | 0 | 1.32 | 52% | 3,797 | 43 |
| 2022 | 81 | $116M | $-26.1M | -10.7% | -25.7% | 0 | 1.62 | 45% | 3,025 | 69 |
| 2023 | 81 | $112M | $-5.2M | -25.1% | -3.8% | 0 | 1.90 | 37% | 2,647 | 71 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Wake Forest University Baptist Medical Center | 5% or greater direct ownership interest | 100 | 2025-07 | |
| Advocate Health Inc | operational/managerial control | 2025-07 | ||
| Ashley Johnson | contracted managing employee | 2025-07 | ||
| Ashley Johnson | w-2 managing employee | 2025-07 | ||
| Atrium Health Inc | operational/managerial control | 2025-07 | ||
| Jena Folger | corporate director | 2025-07 | ||
| Jonathan Snyder | corporate director | 2025-07 | ||
| Kara Richardson | corporate director | 2026-01 | ||
| Mary Blackburn | corporate director | 2025-07 | ||
| Michael Waid | corporate director | 2025-07 | ||
| Wake Forest University Baptist Medical Center | operational/managerial control | 2025-07 |
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 |