Winchester Medical Center
Winchester, Frederick County, VA
· CCN 490005
Licensed to Winchester Medical Center
Composite
11.3
rank score
Distress
14
FY2023
Fit
55
vs thesis
Estimated ticket
$228M–$910M
455 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- 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 · FY2023
| Net patient revenue | $753M |
| Operating margin | -2.5% |
| Total margin | 6.5% |
| Days cash on hand | 278 |
| Current ratio | 4.65 |
| Occupancy | 70% |
Facility
| Beds | 455 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 438 | $584M | $9.9M | -6.8% | 1.6% | 434 | 3.58 | 68% | 20,184 | 26 |
| 2021 | 455 | $647M | $138M | -3.8% | 17.1% | 420 | 5.02 | 68% | 21,457 | 16 |
| 2022 | 455 | $695M | $-77.0M | -5.8% | -11.7% | 304 | 4.81 | 71% | 23,497 | 39 |
| 2023 | 455 | $753M | $53.6M | -2.5% | 6.5% | 278 | 4.65 | 70% | 25,080 | 14 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Valley Health System | 5% or greater direct ownership interest | 100 | 2013-03 | |
| Jill Chambers | w-2 managing employee | 2017-09 | ||
| Robert Amos | corporate officer | 2009-10 | ||
| Robert Amos | corporate director | 2009-10 |
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 VA
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 |
|---|---|---|---|---|
| 2021-04-01 | Maryview Hospital Llc | Bon Secours Depaul Medical Center Llc | Maryview Hospital Llc | 176 |
| 2020-01-01 | Bon Secours Mercy Health Franklin Llc | Franklin Hospital Corporation | Southampton Memorial Hospital | 90 |
| 2020-01-01 | Bon Secours Mercy Health Emporia Llc | Emporia Hospital Corporation | Southern Virginia Regional Med. Ctr. | 70 |
| 2020-01-01 | Bon Secours Mercy Health Petersburg Llc | Petersburg Hospital Company Llc | Bon Secours Southside Medical Center | 300 |
| 2020-01-01 | Inova Health Care Services | Loudoun Hospital Center | Inova Loudoun Hospital Center | 189 |
| 2017-10-01 | Danville Regional Medical Center Llc | Phc-Martinsville Inc | Danville Regional Medical Center | 205 |