Northcrest Medical Center
dba Tristar Northcrest Medical Center ·
Springfield, TN
· CCN 440065
Licensed to Springfield Health Services, Llc
Composite
69.8
rank score
Distress
85
FY2024
Fit
79
vs thesis
Estimated ticket
$38.1M–$153M
109 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- liabilities exceed assets
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $71.6M |
| Operating margin | -16.7% |
| Total margin | -16.2% |
| Days cash on hand | 0 |
| Current ratio | 2.03 |
| Occupancy | 31% |
Facility
| Beds | 109 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 109 | $65.4M | $7.6M | -1.7% | 10.2% | 165 | 4.98 | 32% | 2,448 | 21 |
| 2022 | 109 | $47.8M | $-11.8M | -27.1% | -24.0% | 0 | 2.22 | 32% | 2,403 | 83 |
| 2023 | 109 | $61.7M | $-16.2M | -26.8% | -26.2% | 0 | 2.69 | 26% | 2,974 | 87 |
| 2024 | 109 | $71.6M | $-11.6M | -16.7% | -16.2% | 0 | 2.03 | 31% | 3,525 | 85 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hca Inc | 5% or greater indirect ownership interest | 100 | 2021-09 | |
| Healthserv Acquisition Llc | 5% or greater indirect ownership interest | 100 | 2021-09 | |
| Healthtrust Inc - The Hospital Company | 5% or greater indirect ownership interest | 100 | 2021-09 | |
| Frisco Holding Ii | 5% or greater indirect ownership interest | 11 | 2021-09 | |
| Eric Smith | contracted managing employee | 2021-03 | ||
| Haley Biggers | corporate officer | 2023-09 | ||
| Haley Biggers | w-2 managing employee | 2023-09 | ||
| Hca Healthcare Inc | 5% or greater indirect ownership interest | 2021-09 | ||
| Sean Patterson | corporate officer | 2022-12 | ||
| Sean Patterson | w-2 managing employee | 2022-12 | ||
| Wesley Fountain | corporate officer | 2020-12 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2021-09-01 | change of ownership | Springfield Health Services, Llc | Northcrest Medical Center |
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 |