Cherry Hospital
Goldsboro, Wayne County, NC
· CCN 344026
Licensed to Cherry Hospital State Of North Carolina
Composite
52.6
rank score
Distress
48
FY2024
Fit
78
vs thesis
Estimated ticket
$86.3M–$345M
314 beds ·
within envelope
Ownership
government
PH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- occupancy 45-60%
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- large — ticket likely stretches the envelope
- ticket size uses the capital envelope well
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $6.0M |
| Operating margin | -953.2% |
| Total margin | -3.6% |
| Days cash on hand | — |
| Current ratio | 4.82 |
| Occupancy | 49% |
Facility
| Beds | 314 |
| Facility type | PH |
| Setting | urban |
| Ownership class | government |
| Per-bed (low) | $275K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 314 | $5.7M | $-17.2M | -937.2% | -17.3% | — | 2.20 | 62% | 486 | 57 |
| 2022 | 314 | $6.0M | $-6.1M | -877.8% | -6.0% | — | 2.00 | 54% | 419 | 54 |
| 2023 | 314 | $5.0M | $-9.9M | -1,235.3% | -9.1% | — | 1.24 | 51% | 337 | 64 |
| 2024 | 314 | $6.0M | $-4.0M | -953.2% | -3.6% | — | 4.82 | 49% | 436 | 48 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Dale Armstrong | corporate director | 2016-09 | ||
| Helen Wolstenholme | corporate director | 2019-07 | ||
| Laketha Miller | w-2 managing employee | 2009-02 | ||
| Laura White | w-2 managing employee | 2009-12 |
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 | Iredell Memorial Hospital Incorporated | Statesville Hma Llc | Davis Regional Medical Center | 17 |