Lake Norman Regional Medical Center
dba Duke Health Lake Norman Hospital ·
Mooresville, Iredell County, NC
· CCN 340129
Licensed to Duke Health Lake Norman Regional Medical Center, Inc.
Already transacted. CMS recorded an ownership change effective
2025-04-01. Confirm the current owner before spending a call on this.
Composite
16.5
rank score
Distress
37
FY2023
Fit
76
vs thesis
Estimated ticket
$61.5M–$246M
123 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- occupancy 30-45%
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- for-profit — no charitable conversion review
- changed ownership 2025-04-01 — likely already transacted
Latest financials · FY2023
| Net patient revenue | $143M |
| Operating margin | 23.0% |
| Total margin | 23.6% |
| Days cash on hand | 0 |
| Current ratio | -0.20 |
| Occupancy | 33% |
Facility
| Beds | 123 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| 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 | 123 | $114M | $27.6M | 21.7% | 23.6% | 0 | -0.22 | 31% | 4,718 | 41 |
| 2021 | 123 | $131M | $35.7M | 25.4% | 26.8% | 0 | -0.25 | 35% | 4,123 | 41 |
| 2022 | 123 | $135M | $32.0M | 23.8% | 23.8% | 0 | -0.17 | 33% | 3,917 | 41 |
| 2023 | 123 | $143M | $34.0M | 23.0% | 23.6% | 0 | -0.20 | 33% | 4,062 | 37 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| John Smith | corporate officer | 2011-10 | ||
| John Smith | w-2 managing employee | 2011-10 | ||
| Lisa Goodlett | corporate officer | 2025-04 | ||
| Thomas Owens | corporate officer | 2011-07 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2025-04-01 | change of ownership | Duke Health Lake Norman... | Mooresville Hospital... |
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 |