Charles A. Cannon Memorial Hospital
Linville, Avery County, NC
· CCN 341323
Licensed to Charles A Cannon Jr Memorial Hospital Inc
Composite
36.4
rank score
Distress
48
FY2024
Fit
37
vs thesis
Estimated ticket
$2.0M–$3.9M
23 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin negative
- 90-150 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- occupancy below 30%
- margin slipping
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $26.6M |
| Operating margin | -3.8% |
| Total margin | 9.2% |
| Days cash on hand | 128 |
| Current ratio | 0.53 |
| Occupancy | 19% |
Facility
| Beds | 23 |
| Facility type | CAH |
| 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 | 21 | $17.2M | $-2.0M | -34.8% | -9.5% | 158 | 1.66 | 17% | 354 | 53 |
| 2021 | 21 | $21.2M | $3.1M | -22.0% | 10.9% | 178 | 3.24 | 18% | 272 | 41 |
| 2022 | 23 | $20.2M | $-1.1M | -22.6% | -4.7% | 78 | 4.66 | 17% | 305 | 59 |
| 2023 | 23 | $16.0M | $-1.4M | -24.2% | -7.6% | 19 | 3.10 | 19% | 217 | 76 |
| 2024 | 23 | $26.6M | $2.8M | -3.8% | 9.2% | 128 | 0.53 | 19% | 384 | 48 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Appalachian Regional Healthcare System Inc | 5% or greater direct ownership interest | 2004-06 | ||
| Arvil Burks | corporate officer | 2022-07 | ||
| Charles Mantooth | corporate officer | 2015-04 | ||
| John Lewis | corporate officer | 2022-07 | ||
| Mary Long | corporate director | 2008-10 | ||
| Mary Long | w-2 managing employee | 2012-10 | ||
| Matthew Thomas | corporate officer | 2020-08 | ||
| Stephanie Greer | w-2 managing employee | 2021-10 | ||
| University Of North Carolina Health Care System | operational/managerial control | 2022-07 |
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 |