The Center For Spinal Surgery
dba Saint Thomas Hospital For Specialty Surgery ·
Nashville, Davidson County, TN
· CCN 440218
Licensed to Baptist Women's Health Center Llc
Composite
37.5
rank score
Distress
29
FY2023
Fit
61
vs thesis
Estimated ticket
$11.5M–$46.0M
23 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- 30-60 days cash on hand
- occupancy below 30%
- margin deteriorating
- urban — higher occupancy and iteration surface
- very small facility
- small ticket — deploys little of the available capital
- very low occupancy — limited volume to learn from
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $84.7M |
| Operating margin | 40.9% |
| Total margin | 40.9% |
| Days cash on hand | 37 |
| Current ratio | 2.78 |
| Occupancy | 27% |
Facility
| Beds | 23 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 23 | $68.2M | $30.8M | 43.0% | 44.2% | 35 | 2.35 | 31% | 1,363 | 22 |
| 2021 | 23 | $74.7M | $31.7M | 41.6% | 42.1% | 40 | 2.06 | 27% | 1,315 | 26 |
| 2022 | 23 | $78.7M | $31.0M | 39.3% | 39.4% | 26 | 2.50 | 30% | 1,316 | 31 |
| 2023 | 23 | $84.7M | $34.6M | 40.9% | 40.9% | 37 | 2.78 | 27% | 1,203 | 29 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Baptist Health Care Affiliates Inc | 5% or greater direct ownership interest | 52 | 1998-05 | |
| Ns Investments Llc | 5% or greater direct ownership interest | 28 | 1998-05 | |
| United Surgical Partners International Inc | 5% or greater indirect ownership interest | 20 | 2008-12 | |
| Usp Domestic Holdings Inc | 5% or greater indirect ownership interest | 20 | 2008-12 | |
| Usp Tennessee Inc | 5% or greater direct ownership interest | 20 | 2008-12 | |
| Usp Tennessee Inc | operational/managerial control | 20 | 2008-12 | |
| Uspi Group Holdings Inc | 5% or greater indirect ownership interest | 20 | 2008-12 | |
| Uspi Holding Company Inc | 5% or greater indirect ownership interest | 20 | 2015-06 | |
| Uspi Holdings Inc | 5% or greater indirect ownership interest | 20 | 2008-12 | |
| Hcn Surgery Center Holdings Inc | 5% or greater indirect ownership interest | 10 | 2015-06 | |
| Tenet Healthcare Corporation | 5% or greater indirect ownership interest | 6 | 2015-06 | |
| Vhs San Antonio Partners Llc | 5% or greater indirect ownership interest | 1 | 2015-06 | |
| Vhs San Antonio Partners Llc | other | 1 | 2015-06 | |
| Kristen Oconnor | corporate officer | 2023-01 | ||
| Kristen Oconnor | w-2 managing employee | 2023-01 | ||
| William Montgomery | corporate officer | 2023-07 | ||
| William Montgomery | corporate director | 2023-07 | ||
| William Montgomery | w-2 managing employee | 2023-07 |
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 |