Triangle Springs
Raleigh, Wake County, NC
· CCN 344032
Licensed to Triangle Springs Llc
Composite
56.6
rank score
Distress
51
FY2023
Fit
84
vs thesis
Estimated ticket
$18.0M–$72.0M
77 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin under 2%
- total margin under 2%
- current ratio below 0.8
- liabilities exceed assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $26.6M |
| Operating margin | 0.7% |
| Total margin | 0.9% |
| Days cash on hand | — |
| Current ratio | 0.60 |
| Occupancy | 91% |
Facility
| Beds | 77 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $234K |
| Per-bed (high) | $935K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 77 | $19.9M | $2.1M | 10.4% | 10.6% | — | 0.19 | 81% | 3,001 | 27 |
| 2021 | 77 | $20.1M | $-239K | -1.3% | -1.2% | — | 0.68 | 76% | 2,620 | 61 |
| 2022 | 77 | $24.2M | $-848K | -3.7% | -3.5% | — | 0.72 | 85% | 2,864 | 67 |
| 2023 | 77 | $26.6M | $241K | 0.7% | 0.9% | — | 0.60 | 91% | 2,980 | 51 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Dsb Acquisition Llc | 5% or greater indirect ownership interest | 100 | 2024-03 | |
| Lifepoint Behavioral Health, Llc | 5% or greater indirect ownership interest | 100 | 2024-03 | |
| Lifepoint Health Inc | 5% or greater indirect ownership interest | 100 | 2024-03 | |
| Lifepoint Rehab Blocker Llc | 5% or greater indirect ownership interest | 100 | 2024-03 | |
| Lifepoint Rehab Blocker Parent Llc | 5% or greater indirect ownership interest | 100 | 2024-03 | |
| Lifepoint Rehab Llc | 5% or greater indirect ownership interest | 100 | 2024-03 | |
| Lpnt Autumn Holdco, Llc | 5% or greater indirect ownership interest | 100 | 2024-03 | |
| Springstone Health Opco, Llc | 5% or greater direct ownership interest | 100 | 2017-10 | |
| Amanda Johnson | w-2 managing employee | 2019-10 | ||
| Charlotte Lawrence | corporate officer | 2023-02 | ||
| Christopher Jagoditz | corporate officer | 2025-10 | ||
| Christopher Monte | corporate officer | 2023-02 | ||
| Elliott Brown | corporate officer | 2026-04 | ||
| Lifepoint Behavioral Health Services, Llc | operational/managerial control | 2023-02 | ||
| Marcus Poppell | other | 2023-02 | ||
| Martin Mann | corporate officer | 2023-02 | ||
| Nicoletta Tessler | corporate officer | 2025-08 |
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 |
|---|---|---|---|---|
| 2024-10-01 | Iredell Memorial Hospital Incorporated | Statesville Hma Llc | Davis Regional Medical Center | 17 |