South County Hospital
Wakefield, Washington County, RI
· CCN 410008
Licensed to South County Hospital Healthcare System
Composite
55.1
rank score
Distress
53
FY2023
Fit
78
vs thesis
Estimated ticket
$33.6M–$134M
79 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- margin deteriorating
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $225M |
| Operating margin | -6.2% |
| Total margin | -1.6% |
| Days cash on hand | 9 |
| Current ratio | 1.62 |
| Occupancy | 67% |
Facility
| Beds | 79 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 79 | $184M | $2.6M | -8.7% | 1.3% | 77 | 2.24 | 67% | 5,851 | 40 |
| 2021 | 79 | $205M | $14.7M | -5.5% | 6.4% | 55 | 1.64 | 75% | 6,502 | 39 |
| 2022 | 79 | $213M | $-12.6M | -7.7% | -5.7% | 12 | 1.60 | 72% | 5,600 | 57 |
| 2023 | 79 | $225M | $-3.7M | -6.2% | -1.6% | 9 | 1.62 | 67% | 5,167 | 53 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Aaron Robinson | operational/managerial control | 2019-05 | ||
| Austin Smith | operational/managerial control | 2025-04 | ||
| Eric Norberg | operational/managerial control | 2025-04 | ||
| Herbert Brennan | operational/managerial control | 2025-04 | ||
| James Farrell | operational/managerial control | 2025-04 | ||
| John Howland | operational/managerial control | 2025-04 | ||
| Joseph Matthews | operational/managerial control | 2025-04 | ||
| Kace Quinn | operational/managerial control | 2020-05 | ||
| Marcia Polhemus | corporate director | 2003-10 | ||
| Michael Mccaffrey | operational/managerial control | 2025-04 | ||
| Noah Benedict | operational/managerial control | 2025-04 | ||
| Peter Graves | other | 2025-04 | ||
| Rogean Makowski | operational/managerial control | 2025-04 | ||
| Victoria Wicks | operational/managerial control | 2025-04 |
Ownership changes
No CMS ownership change on record since 2016 — this hospital has not traded in at least a decade.