Dorothea Dix Behavioral Health
dba Dorothea Dix Behavioral Health Center ·
Linville, Avery County, NC
· CCN 344034
Licensed to Appalachian Regional Behavioral Healthcare Inc
Composite
55.4
rank score
Distress
68
FY2024
Fit
62
vs thesis
Estimated ticket
$1.7M–$3.5M
37 beds ·
within envelope
Ownership
nonprofit
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 90-150 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 45-60%
- rural — cheaper but limited density
- specialty facility — narrower problem scope
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $8.1M |
| Operating margin | -12.9% |
| Total margin | -12.8% |
| Days cash on hand | 109 |
| Current ratio | 0.29 |
| Occupancy | 51% |
Facility
| Beds | 37 |
| Facility type | PH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $46.8K |
| Per-bed (high) | $93.5K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2022 | 37 | $3.0M | $-5.4M | -192.1% | -165.1% | 52 | -51.31 | 41% | 569 | 80 |
| 2023 | 37 | $2.0M | $-5.7M | -292.6% | -267.2% | 6 | 46.48 | 46% | 600 | 69 |
| 2024 | 37 | $8.1M | $-1.0M | -12.9% | -12.8% | 109 | 0.29 | 51% | 997 | 68 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Appalachian Regional Healthcare System Inc | 5% or greater direct ownership interest | 100 | 2021-03 | |
| Allee Hollars | w-2 managing employee | 2020-08 | ||
| David Nipper | corporate officer | 2022-12 | ||
| Mary Long | corporate director | 2020-08 | ||
| Richard Cassady | corporate officer | 2022-11 | ||
| University Of North Carolina Health Care System | operational/managerial control | 2022-07 |
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 |