Alleghany Memorial Hospital
Sparta, Alleghany County, NC
· CCN 341320
Licensed to Alleghany County Memorial Hospital Inc
Composite
55.9
rank score
Distress
85
FY2023
Fit
44
vs thesis
Estimated ticket
$1.5M–$3.0M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 30-60 days cash on hand
- current ratio below 0.8
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $12.2M |
| Operating margin | -25.8% |
| Total margin | -17.6% |
| Days cash on hand | 46 |
| Current ratio | 0.50 |
| Occupancy | 7% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $9.1M | $3.9M | -26.7% | 25.3% | 204 | 0.97 | 8% | 158 | 46 |
| 2021 | 25 | $11.2M | $6.8M | -16.9% | 34.2% | 116 | 0.84 | 6% | 141 | 50 |
| 2022 | 25 | $11.0M | $-3.0M | -31.7% | -25.6% | 59 | 0.68 | 9% | 210 | 83 |
| 2023 | 25 | $12.2M | $-2.3M | -25.8% | -17.6% | 46 | 0.50 | 7% | 139 | 85 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Alleghany County Memorial Hospital Inc | 5% or greater direct ownership interest | 100 | 2018-02 | |
| Alleghany County Memorial Hospital Inc | operational/managerial control | 100 | 2018-02 | |
| Alleghany Health, Llc | 5% or greater direct ownership interest | 100 | 2018-02 | |
| Advocate Health Inc | operational/managerial control | 2025-07 | ||
| Alleghany Health, Llc | operational/managerial control | 2018-02 | ||
| Atrium Health Inc | operational/managerial control | 2025-07 | ||
| Forrest Becher | corporate director | 2018-02 | ||
| Hugh Chatham Memorial Hospital Inc | 5% or greater indirect ownership interest | 2018-02 | ||
| Hugh Chatham Memorial Hospital Inc | operational/managerial control | 2018-02 | ||
| Hugh Chatham Memorial Hospital Inc | other | 2001-02 | ||
| James Hoekstra | corporate director | 2018-02 | ||
| Jena Folger | corporate director | 2018-02 | ||
| Paula Moore | w-2 managing employee | 2025-07 | ||
| Ricky Brown | corporate director | 2018-02 | ||
| Wake Forest Univ | other | 2018-02 | ||
| Wake Forest University Baptist Medical Center | other | 2025-07 | ||
| Whitney Ivey | corporate director | 2018-02 |
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 |
|---|---|---|---|---|
| 2024-10-01 | Fletcher Hospital Inc | St. Luke's Hospital Inc | St Lukes Hospital | 25 |
| 2020-10-01 | Centennial Housing & Community... | Cah Acquisition Company 1 Llc | Cah #1 - Washington | 25 |
| 2019-02-01 | Mh Angel Medical Center, Lllp | Angel Medical Center Inc | Mh Angel Medical Center Lllp | 30 |
| 2019-02-01 | Mh Transylvania Regional Hospital, Lllp | Transylvania Community Hospital Inc | Transylvania Community Hospital | 25 |
| 2019-02-01 | Mh Blue Ridge Medical Center, Lllp | Blue Ridge Regional Hospital, Inc. | Blue Ridge Regional Hospital | 25 |
| 2019-02-01 | Mh Highlands-Cashiers Medical Center, Lllp | Highlands-Cashiers Hospital Inc | Highlands Cashiers Hospital | 24 |
| 2017-01-31 | Lifebrite Hospital Group Of Stokes Llc | Pioneer Health Services Of Stokes... | Lifebrite Comm Hosp Of Stokes | 25 |