Roane County Medical Center
dba Covenant Health Roane ·
Harriman, Roane County, TN
· CCN 440031
Licensed to Roane County Medical Center
Composite
63.6
rank score
Distress
66
FY2024
Fit
80
vs thesis
Estimated ticket
$22.1M–$88.4M
52 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio under 1.5
- occupancy 45-60%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size somewhat below the envelope
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $41.6M |
| Operating margin | -6.7% |
| Total margin | -5.5% |
| Days cash on hand | 5 |
| Current ratio | 1.03 |
| Occupancy | 51% |
Facility
| Beds | 52 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 52 | $38.1M | $3.1M | -1.3% | 7.4% | 0 | 0.93 | 55% | 2,768 | 49 |
| 2022 | 52 | $43.8M | $3.5M | 4.2% | 7.6% | 0 | 1.07 | 68% | 3,107 | 26 |
| 2023 | 52 | $44.3M | $2.0M | 2.4% | 4.4% | 0 | 1.07 | 61% | 3,606 | 26 |
| 2024 | 52 | $41.6M | $-2.3M | -6.7% | -5.5% | 5 | 1.03 | 51% | 2,599 | 66 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Covenant Health | 5% or greater direct ownership interest | 100 | 2008-05 | chain |
| Amy Delong | corporate officer | 2024-03 | ||
| April Vonachen | corporate officer | 2024-09 | ||
| April Vonachen | w-2 managing employee | 2024-09 | ||
| James Vandersteeg | corporate officer | 2016-04 | ||
| Jeremy Biggs | corporate officer | 2026-01 | ||
| Jeremy Biggs | w-2 managing employee | 2026-01 | ||
| Joseph Dolan | corporate officer | 2023-07 | ||
| Rick Carringer | corporate officer | 2024-01 |
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 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 |