Catawba Valley Medical Center
dba Catawba Memorial Hospital ·
Hickory, Catawba County, NC
· CCN 340143
Licensed to Catawba Valley Medical Center
Composite
31.3
rank score
Distress
9
FY2024
Fit
68
vs thesis
Estimated ticket
$100M–$400M
200 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- 90-150 days cash on hand
- occupancy 45-60%
- margin slipping
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size at the top of the envelope — would need leverage
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $424M |
| Operating margin | 5.6% |
| Total margin | 8.7% |
| Days cash on hand | 116 |
| Current ratio | 2.00 |
| Occupancy | 54% |
Facility
| Beds | 200 |
| Facility type | STH |
| Setting | urban |
| Ownership class | government |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 200 | $290M | $31.9M | 5.8% | 10.5% | 206 | 2.46 | 56% | 11,037 | 2 |
| 2022 | 200 | $323M | $31.9M | 7.0% | 9.6% | 204 | 2.71 | 62% | 11,344 | 0 |
| 2023 | 200 | $452M | $34.4M | 5.9% | 7.5% | 176 | 2.27 | 58% | 9,448 | 2 |
| 2024 | 200 | $424M | $38.3M | 5.6% | 8.7% | 116 | 2.00 | 54% | 9,014 | 9 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| County Of Catawba Office Of Accountant | operational/managerial control | 1986-10 | ||
| Melinda Fulbright | corporate director | 2024-04 | ||
| Melinda Fulbright | w-2 managing employee | 2024-04 | ||
| Pamela Gallagher | corporate officer | 2023-04 | ||
| Pamela Gallagher | w-2 managing employee | 2023-04 | ||
| Tiffany Perez | w-2 managing employee | 2024-04 |
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 |