Strategic Behavioral Center Leland
dba Carolina Dunes Behavioral Health ·
Leland, Brunswick County, NC
· CCN 344030
Licensed to Sbh-Wilmington Llc
Composite
51.5
rank score
Distress
45
FY2023
Fit
78
vs thesis
Estimated ticket
$11.0M–$44.0M
40 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- margin deteriorating
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $22.2M |
| Operating margin | 2.0% |
| Total margin | 4.3% |
| Days cash on hand | 0 |
| Current ratio | 0.23 |
| Occupancy | 86% |
Facility
| Beds | 40 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 40 | $17.4M | $1.3M | -0.2% | 6.7% | 0 | 0.34 | 65% | 630 | 51 |
| 2021 | 40 | $17.3M | $-715K | -8.0% | -4.0% | 0 | 0.84 | 67% | 635 | 66 |
| 2022 | 40 | $19.6M | $2.2M | 7.4% | 10.7% | 1 | 0.20 | 52% | 747 | 42 |
| 2023 | 40 | $22.2M | $977K | 2.0% | 4.3% | 0 | 0.23 | 86% | 986 | 45 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Brian Walton | corporate officer | 100 | 2026-03 | |
| Brian Walton | w-2 managing employee | 100 | 2026-03 | |
| James Hinkle | corporate officer | 100 | 2026-03 | |
| Sbhc Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Sperry Holdco Llc | 5% or greater indirect ownership interest | 100 | 2025-01 | |
| Summit Behavioral Healthcare Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Summit Behavioral Holdings I Llc | 5% or greater direct ownership interest | 100 | 2021-12 | |
| Summit Behavioral Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Psc Sperry Buyer Llc | 5% or greater indirect ownership interest | 96 | 2021-12 |
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 |