New Hanover Regional Medical Center
dba Novant Health New Hanover Regional Medical Center ·
Wilmington, New Hanover County, NC
· CCN 340141
Licensed to Novant Health New Hanover Regional Medical Center Llc
Composite
54.2
rank score
Distress
61
FY2023
Fit
67
vs thesis
Estimated ticket
$65.5M–$131M
771 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin under 2%
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating sharply
- rural — cheaper but limited density
- very large — likely out of range
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $1.4B |
| Operating margin | -13.5% |
| Total margin | 1.5% |
| Days cash on hand | 16 |
| Current ratio | 1.27 |
| Occupancy | 85% |
Facility
| Beds | 771 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 684 | $1.1B | $132M | -0.8% | 10.5% | 76 | 2.66 | 74% | 32,834 | 26 |
| 2021 | 684 | $1.1B | $20.0M | -6.6% | 1.7% | 22 | 1.84 | 84% | 31,014 | 48 |
| 2022 | 694 | $1.2B | $-78.8M | -19.4% | -5.7% | 28 | 1.33 | 80% | 34,409 | 66 |
| 2023 | 771 | $1.4B | $25.2M | -13.5% | 1.5% | 16 | 1.27 | 85% | 36,815 | 61 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Novant Health Coastal Region Llc | 5% or greater direct ownership interest | 100 | 2021-02 | |
| Novant Health, Inc. | 5% or greater direct ownership interest | 100 | 2021-02 | |
| Carl Armato | corporate officer | 2021-02 | ||
| Daniel Goodwin | corporate officer | 2025-01 | ||
| Ernest Bovio | corporate officer | 2024-01 | ||
| Ernest Bovio | w-2 managing employee | 2024-01 | ||
| Frederick Meine | corporate officer | 2024-01 | ||
| Jeffrey Warhaftig | corporate officer | 2024-01 | ||
| Joseph Pino | corporate director | 2023-01 | ||
| Michael Jaskolka | corporate officer | 2024-01 | ||
| Navin Bhojwani | corporate director | 2025-01 | ||
| Pamela Oliver | corporate director | 2025-01 | ||
| William Hope | corporate officer | 2024-02 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2021-02-01 | change of ownership | Novant Health New Hanover... | New Hanover Regional Medical Center |
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 |