Carolinas Rehabilitation
Charlotte, Mecklenburg County, NC
· CCN 343026
Licensed to Carolinas Rehabilitation
Composite
64.3
rank score
Distress
70
FY2023
Fit
82
vs thesis
Estimated ticket
$34.1M–$136M
150 beds ·
within envelope
Ownership
government
RH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $114M |
| Operating margin | -12.8% |
| Total margin | -8.7% |
| Days cash on hand | 0 |
| Current ratio | 9.24 |
| Occupancy | 81% |
Facility
| Beds | 150 |
| Facility type | RH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $228K |
| Per-bed (high) | $910K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 150 | $90.8M | $2.1M | -2.1% | 2.2% | 0 | 35.75 | 74% | 2,561 | 38 |
| 2021 | 150 | $100.0M | $18.7M | -3.6% | 15.3% | 0 | 11.00 | 74% | 2,772 | 38 |
| 2022 | 150 | $103M | $-3.5M | -8.0% | -3.3% | 0 | 7.16 | 77% | 2,754 | 57 |
| 2023 | 150 | $114M | $-10.2M | -12.8% | -8.7% | 0 | 9.24 | 81% | 3,174 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adrienne Purdue | corporate director | 2020-01 | ||
| Advocate Health Inc | operational/managerial control | 2022-12 | ||
| Amanda Houser | corporate director | 2022-01 | ||
| Angelique Vincent-Hamacher | corporate director | 2014-01 | ||
| Atrium Health Inc | operational/managerial control | 2020-10 | ||
| Bradley Clark | corporate officer | 2023-08 | ||
| Brett Denton | corporate officer | 2002-01 | ||
| Carl Herring | corporate director | 2022-01 | ||
| Carol Lovin | corporate officer | 2011-01 | ||
| Charles Bowman | corporate director | 2020-01 | ||
| David Danzie | corporate director | 2020-01 | ||
| Erin Snyder | corporate officer | 2023-01 | ||
| Felicia Allen | corporate director | 2020-01 | ||
| Gary Gragg | corporate director | 2020-01 | ||
| Gracie Coleman | corporate director | 2007-01 | ||
| Hal Levinson | corporate director | 2016-02 | ||
| Katherine Ketner | corporate officer | 2023-01 | ||
| Kenneth Haynes | corporate officer | 2017-02 | ||
| Kenneth Haynes | corporate director | 2023-01 | ||
| Mark Reed | corporate director | 2020-01 | ||
| Marshall Carlson | corporate director | 2016-02 | ||
| Michael Rucker | corporate director | 2013-01 | ||
| Nakessha Lopez | corporate officer | 2024-03 | ||
| Nancy Gritter | corporate director | 2017-02 | ||
| Rasu Bickram Shrestha | corporate officer | 2019-02 |
Showing 25 of 35. Full list via /api/targets/343026.
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 |
|---|---|---|---|---|
| 2019-02-01 | Carepartners Rehabilitation Hospital, Lllp | Community Carepartners Inc | Carepartners Rehab Hospital | 70 |