Henderson County Community Hospital
Lexington, Henderson County, TN
· CCN 440008
Licensed to Lexington Hospital Corporation
Composite
36.0
rank score
Distress
25
FY2023
Fit
62
vs thesis
Estimated ticket
$3.6M–$7.2M
36 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- under 30 days cash on hand
- occupancy 30-45%
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $23.3M |
| Operating margin | 3.4% |
| Total margin | 21.7% |
| Days cash on hand | 1 |
| Current ratio | 7.56 |
| Occupancy | 37% |
Facility
| Beds | 36 |
| Facility type | STH |
| Setting | rural |
| Ownership class | for-profit |
| 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 | 36 | $20.2M | $3.4M | 11.5% | 14.7% | 22 | 1.02 | 14% | 520 | 39 |
| 2021 | 36 | $28.1M | $15.2M | 30.6% | 43.8% | 17 | 3.59 | 24% | 871 | 31 |
| 2022 | 36 | $20.9M | $5.6M | 9.3% | 22.1% | 2 | 5.20 | 21% | 716 | 31 |
| 2023 | 36 | $23.3M | $6.4M | 3.4% | 21.7% | 1 | 7.56 | 37% | 748 | 25 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Braden Health Inc | 5% or greater direct ownership interest | 100 | 2020-04 | |
| Beau Braden | corporate officer | 2020-04 | ||
| Beau Braden | corporate director | 2020-04 | ||
| Brooks Braden | corporate officer | 2020-04 | ||
| Brooks Braden | corporate director | 2020-04 | ||
| Gary Stewart | corporate officer | 2020-04 | ||
| Gary Stewart | w-2 managing employee | 2020-04 | ||
| Joseph Thomas | corporate director | 2020-04 | ||
| Larry Henson | corporate officer | 2021-05 |
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 TN
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 | West Tennessee Healthcare Henry County | Henry County Medical Center | Henry County Medical Center | 33 |
| 2024-08-01 | Bradley Medical Center Llc | Cleveland Tennessee Hospital Company Llc | Skyridge Medical Center | 176 |
| 2023-07-01 | Erlanger Health | Chattanooga Hamilton County... | Erlanger Medical Center | 662 |
| 2022-07-01 | Hh Health System - Lincoln Inc | Lincoln Medical Center | Lincoln Medical Center | 47 |
| 2021-09-01 | Springfield Health Services, Llc | Northcrest Medical Center | Northcrest Medical Center | 109 |
| 2021-01-01 | Vanderbilt Coffee Hospital Llc | Tullahoma Hma Llc | Vanderbilt Tullahoma-Harton Hospital | 76 |
| 2021-01-01 | Vanderbilt Bedford Hospital Llc | Shelbyville Hospital Company Llc | Vanderbilt Bedford County Hospital | 24 |
| 2019-08-01 | Vanderbilt University Medical Center | Lebanon Hma Llc | Vanderbilt Wilson County Hospital | 117 |
| 2016-04-30 | Vanderbilt University Medical Center | Vanderbilt University | Vanderbilt University Medical Center | 1,084 |