Memorial Health Care System Inc.
dba Memorial Hospital/memorial Hospital Hixson-Chi Memorial/ Chi Memorial ·
Chattanooga, TN
· CCN 440091
Licensed to Memorial Health Care System Inc.
Composite
19.8
rank score
Distress
49
FY2024
Fit
64
vs thesis
Estimated ticket
$216M–$862M
431 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- very large — likely out of range
- estimated price exceeds the capital envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $644M |
| Operating margin | -4.8% |
| Total margin | 0.2% |
| Days cash on hand | 0 |
| Current ratio | 0.64 |
| Occupancy | 69% |
Facility
| Beds | 431 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 423 | $488M | $-5.9M | -25.8% | -1.0% | 137 | 3.35 | 62% | 19,904 | 40 |
| 2022 | 423 | $559M | $-28.4M | -8.8% | -4.9% | 82 | 7.89 | 61% | 18,078 | 44 |
| 2023 | 431 | $584M | $-16.1M | -9.0% | -2.6% | 25 | 10.52 | 64% | 19,814 | 52 |
| 2024 | 431 | $644M | $1.2M | -4.8% | 0.2% | 0 | 0.64 | 69% | 22,649 | 49 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Commonspirit Health | 5% or greater direct ownership interest | 100 | 2007-11 | chain |
| Brad Beers | corporate director | 2025-07 | ||
| Brooks Bass | corporate director | 2025-07 | ||
| Commonspirit Health | operational/managerial control | 2007-11 | chain | |
| Craig Nielsen | corporate officer | 2023-07 | ||
| Craig Nielsen | operational/managerial control | 2023-07 | ||
| Demetress Harrell | corporate director | 2025-07 | ||
| Donald Hearne | corporate officer | 2025-07 | ||
| Doug Lawson | corporate director | 2025-07 | ||
| Frank Ashley | corporate director | 2025-07 | ||
| Gary Whitlock | corporate director | 2025-07 | ||
| Indira Anupindi | corporate director | 2025-07 | ||
| Jane Ainsworth | corporate director | 2025-07 | ||
| Janelle Reilly | corporate officer | 2018-07 | ||
| Janelle Reilly | operational/managerial control | 2018-10 | ||
| Matthew Brown | corporate officer | 2025-07 | ||
| Matthew Brown | corporate director | 2025-07 | ||
| Michael Steines | corporate director | 2025-07 | ||
| Monte Bostwick | corporate director | 2025-07 | ||
| Robert Upchurch | corporate director | 2025-07 | ||
| Terika Mbanu | corporate officer | 2024-01 | ||
| Terika Mbanu | corporate director | 1978-07 | ||
| Thomas Kopfensteiner | corporate director | 2025-07 |
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 |