Sentara Norfolk General Hospital
Norfolk, Norfolk City County, VA
· CCN 490007
Licensed to Sentara Hospitals
Composite
33.0
rank score
Distress
20
FY2023
Fit
60
vs thesis
Estimated ticket
$47.2M–$94.4M
472 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- rural — cheaper but limited density
- very large — likely out of range
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $1.7B |
| Operating margin | 12.5% |
| Total margin | 17.2% |
| Days cash on hand | 13 |
| Current ratio | 3.65 |
| Occupancy | 98% |
Facility
| Beds | 472 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 473 | $1.1B | $151M | 7.5% | 13.0% | 11 | 2.64 | 94% | 23,352 | 22 |
| 2021 | 472 | $1.3B | $255M | 9.5% | 18.5% | 25 | 3.41 | 97% | 24,426 | 22 |
| 2022 | 472 | $1.3B | $171M | 4.9% | 12.3% | 12 | 2.77 | 97% | 24,046 | 22 |
| 2023 | 472 | $1.7B | $290M | 12.5% | 17.2% | 13 | 3.65 | 98% | 25,271 | 20 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Sentara Health | 5% or greater direct ownership interest | 100 | 2023-01 | |
| Cathy Darden | w-2 managing employee | 2019-05 | ||
| Dennis Matheis | corporate officer | 2022-09 | ||
| Dennis Matheis | corporate director | 2022-09 | ||
| Dennis Matheis | w-2 managing employee | 2022-09 | ||
| Eric Conley | corporate officer | 2024-04 | ||
| Eric Conley | corporate director | 2024-04 | ||
| Melinda Hancock | corporate director | 2025-01 | ||
| Melinda Hancock | w-2 managing employee | 2025-01 | ||
| Michelle Allen | w-2 managing employee | 2022-10 |
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 |