Medical University Hospital Authorit
dba Musc Health Black River Medical Center ·
Cades, Williamsburg County, SC
· CCN 420117
Licensed to Medical University Hospital Authority
Composite
33.6
rank score
Distress
33
FY2024
Fit
47
vs thesis
Estimated ticket
$2.5M–$5.0M
25 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin negative
- debt above 70% of assets
- occupancy 30-45%
- margin deteriorating sharply
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $29.9M |
| Operating margin | -0.1% |
| Total margin | 35.6% |
| Days cash on hand | 319 |
| Current ratio | 7.09 |
| Occupancy | 40% |
Facility
| Beds | 25 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2023 | 25 | $11.3M | $11.2M | -32.5% | 42.9% | 365 | 10.70 | 42% | 502 | 38 |
| 2024 | 25 | $29.9M | $16.5M | -0.1% | 35.6% | 319 | 7.09 | 40% | 1,195 | 33 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Karyn Rae | corporate director | 100 | 2022-10 | |
| Patrick Cawley | corporate officer | 100 | 2022-10 | |
| Sonya Floyd | w-2 managing employee | 100 | 2022-10 | |
| Barbara Johnson Williams | corporate director | 2026-01 | ||
| Bartlett Witherspoon | corporate director | 2026-01 | ||
| Charles Castles | corporate director | 2026-01 | ||
| Charles Schulze | corporate director | 2026-01 | ||
| Donald Johnson | corporate director | 2026-01 | ||
| Douglas Lischke | w-2 managing employee | 2024-12 | ||
| George Smith | corporate director | 2026-01 | ||
| Henry Butehorn | corporate director | 2026-01 | ||
| James Battle | corporate director | 2026-01 | ||
| James Lemon | corporate director | 2026-01 | ||
| Medical University Of South Carolina | operational/managerial control | 2019-03 | ||
| Michael Stavrinakis | corporate director | 2026-01 | ||
| Paul Davis | corporate director | 2026-01 | ||
| Richard Christian | corporate director | 2026-01 | ||
| Terri Barnes | corporate director | 2026-01 | ||
| Thomas Stephenson | corporate director | 2026-01 | ||
| William Brown | corporate director | 2026-01 |
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 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 |