Presbyterian Hospital Matthews
dba Novant Health Matthews Medical Center ·
Matthews, Mecklenburg County, NC
· CCN 340171
Licensed to Novant Health Matthews Medical Center Llc
Composite
51.3
rank score
Distress
42
FY2023
Fit
81
vs thesis
Estimated ticket
$78.5M–$314M
157 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $292M |
| Operating margin | 16.0% |
| Total margin | 16.6% |
| Days cash on hand | 0 |
| Current ratio | -0.05 |
| Occupancy | 77% |
Facility
| Beds | 157 |
| 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 | 123 | $255M | $89.5M | 30.7% | 33.6% | 0 | -0.05 | 96% | 10,109 | 36 |
| 2021 | 157 | $290M | $67.0M | 22.3% | 22.9% | 0 | -0.06 | 88% | 10,128 | 36 |
| 2022 | 157 | $275M | $42.2M | 14.3% | 15.2% | 0 | -0.05 | 81% | 8,997 | 36 |
| 2023 | 157 | $292M | $48.9M | 16.0% | 16.6% | 0 | -0.05 | 77% | 9,307 | 42 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Novant Health Southern Piedmont Region, Llc | 5% or greater direct ownership interest | 100 | 1983-05 | |
| Novant Health, Inc. | 5% or greater direct ownership interest | 100 | 1983-05 | |
| Carl Armato | corporate director | 2006-11 | ||
| Carl Armato | w-2 managing employee | 2012-01 | ||
| David Longo | corporate director | 2025-01 | ||
| James Johnson | corporate director | 2017-01 | ||
| James Taylor | corporate director | 2019-01 | ||
| John Lewis | corporate director | 2018-01 | ||
| Justin Rutledge | corporate director | 2025-01 | ||
| Kandi Deitemeyer | corporate officer | 2021-01 | ||
| Kimberly Case | corporate director | 2021-05 | ||
| Louis Lobo | corporate officer | 2021-01 | ||
| Marsha Lyons | corporate director | 2018-01 | ||
| Molly Grantham | corporate director | 2025-01 | ||
| Patrick Wilson | corporate officer | 2023-05 | ||
| Saad Ehtisham | corporate director | 2021-01 | ||
| Tera Black | corporate director | 2025-01 | ||
| Thaddeus Jones | corporate director | 2018-01 | ||
| Vinay Patel | corporate director | 2025-01 | ||
| Zachary Landry | corporate officer | 2024-02 | ||
| Zachary Landry | w-2 managing employee | 2024-02 |
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 |