Spartanburg Regional Medical Center
Spartanburg, Spartanburg County, SC
· CCN 420007
Licensed to Spartanburg Medical Center
Composite
26.2
rank score
Distress
4
FY2023
Fit
61
vs thesis
Estimated ticket
$62.6M–$125M
626 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- 90-150 days cash on hand
- rural — cheaper but limited density
- very large — likely out of range
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2023
| Net patient revenue | $1.2B |
| Operating margin | 6.4% |
| Total margin | 11.4% |
| Days cash on hand | 100 |
| Current ratio | 2.72 |
| Occupancy | 80% |
Facility
| Beds | 626 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 643 | $967M | $107M | 2.7% | 10.2% | 136 | 3.41 | 73% | 29,078 | 4 |
| 2021 | 668 | $1.1B | $140M | 8.3% | 12.0% | 53 | 2.42 | 80% | 34,537 | 17 |
| 2022 | 665 | $1.2B | $57.9M | 7.2% | 4.9% | 92 | 2.57 | 77% | 33,267 | 4 |
| 2023 | 626 | $1.2B | $147M | 6.4% | 11.4% | 100 | 2.72 | 80% | 29,361 | 4 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bruce Davis | corporate officer | 2020-01 | ||
| Bruce Davis | w-2 managing employee | 2020-01 | ||
| Charles Morrow | w-2 managing employee | 2023-12 | ||
| Charles Morrow | operational/managerial control | 2023-12 | ||
| Elmer Holstien | contracted managing employee | 2023-12 | ||
| Elmer Holstien | corporate officer | 2011-08 | ||
| Spartanburg Medical Center | operational/managerial control | 2007-11 | ||
| Spartanburg Regional Health Services District Inc | 5% or greater direct ownership interest | 1995-05 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2019-01-01 | acquisition/merger | Spartanburg Medical Center | Mary Black Health System Llc |
Who has been buying in SC
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 |
|---|---|---|---|---|
| 2025-10-01 | Prisma Health-Midlands | Prisma Health Tuomey | Prisma Health Tuomey Hospital | 161 |
| 2024-02-01 | East Cooper Medical Center Llc | East Cooper Community Hospital, Inc. | East Cooper Regional Medical Center | 120 |
| 2024-02-01 | Hilton Head Medical Center Llc | Hilton Head Health System, L.p. | Hilton Head Hospital | 93 |
| 2024-01-31 | South Carolina Coastal Medical Center Llc | Coastal Carolina Medical Center Inc | Coastal Carolina Medical Center | 41 |
| 2021-08-01 | Medical University Hospital Authority | Kershaw Hospital Llc | Musc Health Kershaw Medical Center | 99 |
| 2021-08-01 | Medical University Hospital Authority | Providence Hospital Llc | Musc Health Columbia Medical Center | 332 |
| 2021-02-01 | Lexington Health Inc | Lexington County Health Services... | Lexington Medical Center | 541 |
| 2020-12-31 | Mcleod Regional Medical Center Of... | Mcleod Regional Medical Center Of... | Mcleod Regional Medical Center | 524 |
| 2019-03-01 | Medical University Hospital Authority | Chester Hma Llc | Musc Health Chester Medical Center | 16 |
| 2019-03-01 | Medical University Hospital Authority | Qhg Of South Carolina Inc | Musc Health Florence Medical Center | 187 |
| 2019-03-01 | Medical University Hospital Authority | Qhg Of South Carolina Inc | Musc Health Marion Medical Center | 36 |
| 2019-01-01 | Spartanburg Medical Center | Mary Black Health System Llc | Spartanburg Regional Medical Center | 626 |
| 2019-01-01 | Cherokee Medical Center | Gaffney Hma Llc | Cherokee Medical Center | 24 |
| 2018-10-01 | Prisma Health-Upstate | Baptist Easley Hospital | Ph Baptist Easley Hospital | 74 |
| 2016-10-01 | Prisma Health-Upstate | Greenville Health System | Ph Hillcrest Hospital | 43 |