Erlanger Medical Center
Chattanooga, Hamilton County, TN
· CCN 440104
Licensed to Erlanger Health
Already transacted. CMS recorded an ownership change effective
2023-07-01. Confirm the current owner before spending a call on this.
Composite
12.6
rank score
Distress
18
FY2024
Fit
70
vs thesis
Estimated ticket
$66.2M–$132M
662 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin negative
- 90-150 days cash on hand
- rural — cheaper but limited density
- very large — likely out of range
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- government-owned — public process likely
- changed ownership 2023-07-01 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $1.2B |
| Operating margin | -2.1% |
| Total margin | 5.6% |
| Days cash on hand | 113 |
| Current ratio | 3.35 |
| Occupancy | 72% |
Facility
| Beds | 662 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 688 | $938M | $27.2M | -2.5% | 2.7% | 117 | 1.37 | 73% | 35,959 | 23 |
| 2022 | 691 | $998M | $28.3M | -4.5% | 2.6% | 112 | 1.59 | 72% | 31,994 | 20 |
| 2023 | 750 | $1.1B | $39.7M | -6.4% | 3.3% | 85 | 1.68 | 62% | 37,436 | 32 |
| 2024 | 662 | $1.2B | $71.9M | -2.1% | 5.6% | 113 | 3.35 | 72% | 32,890 | 18 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Erlanger Health | 5% or greater direct ownership interest | 100 | 2023-07 | |
| Jeff Woodard | corporate officer | 2023-07 | ||
| Jim Coleman | corporate officer | 2023-07 | ||
| Lynn Dejaco | corporate officer | 2023-07 | ||
| Mike Shaver | w-2 managing employee | 2023-07 | ||
| Sheila Boyington | corporate director | 2023-07 | ||
| Stephanie Gary | corporate officer | 2026-02 | ||
| Vicky Gregg | corporate director | 2023-07 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2023-07-01 | change of ownership | Erlanger Health | Chattanooga Hamilton County... |
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 |