Carolinas Continuecare Pineville
dba Carolinas Continuecare Hospital At Pineville ·
Charlotte, Mecklenburg County, NC
· CCN 342015
Licensed to Mercy Restorative Care Hospital, Inc
Composite
53.8
rank score
Distress
59
FY2024
Fit
68
vs thesis
Estimated ticket
$10.2M–$40.8M
40 beds ·
within envelope
Ownership
nonprofit
LTCH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- margin deteriorating
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $20.7M |
| Operating margin | -0.3% |
| Total margin | 0.4% |
| Days cash on hand | 16 |
| Current ratio | 0.38 |
| Occupancy | 77% |
Facility
| Beds | 40 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $255K |
| Per-bed (high) | $1.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 40 | $17.5M | $680K | 2.1% | 3.8% | 63 | 0.33 | 72% | 343 | 28 |
| 2022 | 40 | $19.4M | $1.1M | 4.0% | 5.6% | 17 | 1.79 | 77% | 348 | 27 |
| 2023 | 40 | $20.7M | $526K | 1.8% | 2.5% | 14 | 0.37 | 83% | 399 | 47 |
| 2024 | 40 | $20.7M | $90.1K | -0.3% | 0.4% | 16 | 0.38 | 77% | 206 | 59 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Carolinas Community Care Llc | 5% or greater direct ownership interest | 100 | 2014-10 | |
| Chc Community Care, Llc | operational/managerial control | 100 | 2014-10 | |
| April Myers | corporate director | 2016-01 | ||
| Brook Frasier | corporate director | 2022-11 | ||
| Derek Murzyn | corporate officer | 2016-05 | ||
| Derek Murzyn | w-2 managing employee | 2016-05 | ||
| Earl Warrick Jr | corporate director | 2014-10 | ||
| Eva Huneycutt-Whitley | corporate director | 2021-04 | ||
| Jim Kendrick | corporate director | 2017-04 | ||
| Keith Rogers | corporate officer | 2017-12 | ||
| Michael Murray | corporate officer | 2019-05 | ||
| Steve Haemmerle | corporate officer | 2024-08 |
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 |
|---|---|---|---|---|
| 2019-09-30 | Pam Specialty Hospital Of Rocky Mount Llc | New Lifecare Hospitals Of North... | Pam Specialty Hosp. Of Rocky Mount | 50 |