The Outer Banks Hospital Inc
dba Outer Banks Health Hospital ·
Nags Head, Dare County, NC
· CCN 341324
Licensed to The Outer Banks Hospital Inc
Composite
18.7
rank score
Distress
5
FY2023
Fit
41
vs thesis
Estimated ticket
$1.8M–$3.6M
21 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- occupancy 30-45%
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $96.7M |
| Operating margin | 24.4% |
| Total margin | 27.4% |
| Days cash on hand | 271 |
| Current ratio | 14.25 |
| Occupancy | 44% |
Facility
| Beds | 21 |
| 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 | $79.2M | $20.6M | 27.4% | 24.1% | 313 | 5.72 | 39% | 1,059 | 6 |
| 2021 | 21 | $95.3M | $26.6M | 32.6% | 27.2% | 337 | 13.28 | 42% | 1,076 | 6 |
| 2022 | 21 | $93.7M | $29.4M | 26.2% | 29.8% | 323 | 16.47 | 39% | 1,060 | 6 |
| 2023 | 21 | $96.7M | $27.5M | 24.4% | 27.4% | 271 | 14.25 | 44% | 1,155 | 5 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| East Carolina Health | other | 60 | 2002-10 | |
| Chesapeake Hospital Authority | other | 40 | 2002-10 | |
| Donald Smith | corporate officer | 2024-02 | ||
| East Carolina Health | 5% or greater direct ownership interest | 2004-07 | ||
| James Jackson | corporate director | 2019-05 | ||
| Jamie Fountain | corporate director | 2020-05 | ||
| Jason Higginson | corporate director | 2024-09 | ||
| Michael Waldrum | corporate director | 2015-06 | ||
| Michelle Taylor | corporate officer | 2021-10 | ||
| Myra Bowen | corporate director | 2021-06 | ||
| Myra Ladd-Bone | corporate director | 2020-05 | ||
| Sandra Baynes | corporate director | 2025-05 | ||
| Sandra Martin | corporate director | 2025-05 | ||
| Todd Warlitner | corporate officer | 2002-12 | ||
| Todd Warlitner | w-2 managing employee | 2002-12 | ||
| University Health Systems Of Eastern Carolina, Inc. | 5% or greater direct ownership interest | 2002-03 | ||
| Walton Burkhimer | corporate director | 2021-06 | ||
| William Waughtel | corporate director | 2024-05 |
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 |