American Healthcare Systems
dba Randolph Health ·
Asheboro, Randolph County, NC
· CCN 340123
Licensed to American Healthcare Systems Llc
Composite
44.5
rank score
Distress
34
FY2023
Fit
73
vs thesis
Estimated ticket
$72.5M–$290M
145 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- 30-60 days cash on hand
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $109M |
| Operating margin | -2.3% |
| Total margin | 15.7% |
| Days cash on hand | 51 |
| Current ratio | 2.24 |
| Occupancy | 32% |
Facility
| Beds | 145 |
| 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 | 145 | $86.3M | $2.2M | -22.9% | 2.0% | 8 | 0.96 | 23% | 4,626 | 68 |
| 2021 | 145 | $81.3M | $-31.8M | -40.2% | -38.7% | 30 | 0.28 | 28% | 4,960 | 88 |
| 2022 | 145 | $120M | $15.7M | 9.7% | 12.7% | 25 | 2.28 | 35% | 5,733 | 28 |
| 2023 | 145 | $109M | $20.7M | -2.3% | 15.7% | 51 | 2.24 | 32% | 5,725 | 34 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| American Healthcare Systems Corp Inc | 5% or greater direct ownership interest | 100 | 2020-03 | |
| Mike Sarian | corporate officer | 100 | 2020-09 | |
| Mike Sarian | corporate director | 50 | 2020-09 | |
| Angela Burgess | w-2 managing employee | 25 | 2021-10 | |
| Chastity Glover | w-2 managing employee | 25 | 2022-09 | |
| Lisa Coley | w-2 managing employee | 25 | 2025-02 | |
| Martica Craven | w-2 managing employee | 25 | 2022-09 | |
| Donna Parsons | w-2 managing employee | 2021-10 | ||
| Mike Sarian | 5% or greater indirect ownership interest | 2021-10 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2021-10-01 | change of ownership | American Healthcare Systems Llc | Randolph Hospital, Inc. |
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 |