Continuecare Hosp At Palmetto Health
dba Continuecare Hospital At Palmetto Health Baptist ·
Columbia, Richland County, SC
· CCN 422006
Licensed to Continuecare Hospital At Palmetto Health Baptist, Inc..
Composite
60.4
rank score
Distress
79
FY2023
Fit
62
vs thesis
Estimated ticket
$7.3M–$29.4M
35 beds ·
within envelope
Ownership
nonprofit
LTCH
Why it ranks here
- operating margin negative
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- small but workable bed count
- small ticket — deploys little of the available capital
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $12.5M |
| Operating margin | -3.5% |
| Total margin | -3.5% |
| Days cash on hand | 3 |
| Current ratio | 0.22 |
| Occupancy | 59% |
Facility
| Beds | 35 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $210K |
| Per-bed (high) | $840K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 35 | $15.0M | $745K | 3.4% | 4.9% | 51 | 0.63 | 71% | 280 | 41 |
| 2021 | 35 | $12.6M | $-2.1M | -18.5% | -16.4% | 28 | 0.30 | 68% | 343 | 91 |
| 2022 | 35 | $14.1M | $446K | 1.6% | 3.1% | 6 | 0.26 | 64% | 329 | 53 |
| 2023 | 35 | $12.5M | $-431K | -3.5% | -3.5% | 3 | 0.22 | 59% | 273 | 79 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Chc Community Care, Llc | 5% or greater direct ownership interest | 100 | 2016-08 | |
| April Myers | corporate director | 2016-01 | ||
| Holly Powell | operational/managerial control | 2017-12 | ||
| John Jones | corporate officer | 2021-07 | ||
| John Jones | w-2 managing employee | 2021-07 | ||
| Marvin Roberson | corporate director | 2020-07 | ||
| Michael Bundy | corporate director | 2019-05 | ||
| Michael Murray | corporate officer | 2018-02 | ||
| Patrick Mcelderry | corporate director | 2022-08 | ||
| Thomas Brown | corporate director | 2017-10 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2016-08-01 | acquisition/merger | Continuecare Hospital At... | Intermedical Hospital Of South Carolina |
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 |
|---|---|---|---|---|
| 2025-01-01 | Charleston-Amg Specialty Hospital Inc | Vibra Hospital Of Charleston Llc | Vibra Hospital Of Charleston Llc | 59 |
| 2016-10-01 | Prisma Health-Upstate | Greenville Health System | Ph N Greenville Lt Acute Care Hosp | 44 |
| 2016-08-01 | Continuecare Hospital At Palmetto... | Intermedical Hospital Of South Carolina | Continuecare Hosp At Palmetto Health | 35 |