Carteret County General Hospital Com
dba Carteret Health Care ·
Morehead City, Carteret County, NC
· CCN 340142
Licensed to Carteret County General Hospital Corporation
Composite
28.6
rank score
Distress
12
FY2023
Fit
58
vs thesis
Estimated ticket
$9.9M–$19.8M
99 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- 60-90 days cash on hand
- margin slipping
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $206M |
| Operating margin | 7.1% |
| Total margin | 11.7% |
| Days cash on hand | 64 |
| Current ratio | 2.02 |
| Occupancy | 79% |
Facility
| Beds | 99 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 99 | $167M | $21.3M | 8.3% | 12.2% | 148 | 2.40 | 62% | 5,388 | 4 |
| 2021 | 99 | $181M | $27.8M | 8.7% | 14.4% | 138 | 2.87 | 68% | 5,825 | 4 |
| 2022 | 99 | $187M | $2.0M | 6.4% | 1.1% | 131 | 2.31 | 69% | 5,806 | 8 |
| 2023 | 99 | $206M | $25.3M | 7.1% | 11.7% | 64 | 2.02 | 79% | 5,991 | 12 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Brian Marek | corporate director | 2011-09 | ||
| Carteret County General Hospital Corporation | 5% or greater direct ownership interest | 1967-07 | ||
| Carteret County General Hospital Corporation | operational/managerial control | 1967-07 | ||
| Chad Albaugh | corporate director | 2021-01 | ||
| Claud Wheatly | corporate director | 2011-01 | ||
| Clyde Brooks | corporate director | 2020-07 | ||
| Jamie Vogel | corporate director | 2021-01 | ||
| Jeffrey Moore | corporate director | 2015-12 | ||
| Joanie King | corporate director | 2011-01 | ||
| Joanie King | w-2 managing employee | 2011-01 | ||
| Julius Taylor | corporate director | 2016-12 | ||
| Juozas Zavadzkas | corporate director | 2020-01 | ||
| Michael Soucie | corporate director | 2014-08 | ||
| Patrick Joyce | corporate director | 2014-12 | ||
| Patti Hudson | corporate director | 2020-03 | ||
| Robert Cavanaugh | corporate director | 2018-12 | ||
| Stanley Carr | corporate director | 2016-12 | ||
| Stephen Rea | corporate director | 2018-12 | ||
| Stephen Sullivan | corporate director | 2021-01 | ||
| William Case | w-2 managing employee | 2020-01 | ||
| William Shouse | corporate director | 2015-12 |
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 |