Halifax Regional Hospital
dba Sentara Halifax Regional Hospital ·
South Boston, Halifax County, VA
· CCN 490013
Licensed to Halifax Regional Hospital Inc
Composite
61.5
rank score
Distress
81
FY2023
Fit
58
vs thesis
Estimated ticket
$3.1M–$6.2M
44 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 30-60 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $102M |
| Operating margin | -23.6% |
| Total margin | -26.7% |
| Days cash on hand | 33 |
| Current ratio | 0.50 |
| Occupancy | 60% |
Facility
| Beds | 44 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $70.0K |
| Per-bed (high) | $140K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 44 | $78.8M | $191K | 0.6% | 0.2% | 0 | 1.33 | 75% | 2,891 | 36 |
| 2021 | 44 | $102M | $1.9M | 1.2% | 1.9% | 43 | 0.46 | 78% | 2,730 | 48 |
| 2022 | 44 | $105M | $-12.8M | -16.5% | -11.7% | 25 | 0.58 | 70% | 2,610 | 88 |
| 2023 | 44 | $102M | $-28.1M | -23.6% | -26.7% | 33 | 0.50 | 60% | 2,521 | 81 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Sentara Health | 5% or greater direct ownership interest | 100 | 2023-01 | chain |
| Cathy Darden | w-2 managing employee | 2019-05 | ||
| Deborah Thexton | w-2 managing employee | 2022-01 | ||
| Dennis Matheis | corporate director | 2022-09 | ||
| Eric Conley | corporate officer | 2024-04 | ||
| Eric Conley | corporate director | 2024-04 | ||
| Eric Conley | w-2 managing employee | 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 |