Parkwest Medical Center
Knoxville, Knox County, TN
· CCN 440173
Licensed to Parkwest Medical Center
Composite
52.1
rank score
Distress
50
FY2024
Fit
74
vs thesis
Estimated ticket
$153M–$610M
359 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- current ratio under 1.5
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $424M |
| Operating margin | -4.0% |
| Total margin | 1.0% |
| Days cash on hand | 0 |
| Current ratio | 1.15 |
| Occupancy | 71% |
Facility
| Beds | 359 |
| 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 | 392 | $387M | $46.7M | 3.4% | 11.1% | 0 | 1.28 | 74% | 21,695 | 26 |
| 2022 | 348 | $375M | $6.3M | -3.7% | 1.6% | 0 | 1.09 | 76% | 19,026 | 44 |
| 2023 | 361 | $396M | $-464K | -5.5% | -0.1% | 0 | 1.15 | 73% | 18,982 | 56 |
| 2024 | 359 | $424M | $4.4M | -4.0% | 1.0% | 0 | 1.15 | 71% | 19,404 | 50 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Amy Delong | corporate officer | 100 | 2024-03 | |
| Covenant Health | 5% or greater direct ownership interest | 100 | 1996-07 | |
| James Vandersteeg | corporate officer | 100 | 2016-04 | |
| Joseph Dolan | corporate officer | 100 | 2023-07 | |
| Rick Carringer | corporate officer | 100 | 2024-01 | |
| Devan Johnson | corporate officer | 2022-07 | ||
| Devan Johnson | w-2 managing employee | 2022-07 | ||
| Scott Hamilton | corporate officer | 2007-08 | ||
| Scott Hamilton | w-2 managing employee | 2007-08 |
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 |