Shore Memorial Hospital
dba Riverside Shore Memorial Hospital ·
Onacock, Northampton County, VA
· CCN 490037
Licensed to Shore Health Services Inc.
Composite
34.0
rank score
Distress
31
FY2023
Fit
50
vs thesis
Estimated ticket
$5.2M–$10.4M
52 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- occupancy 30-45%
- margin deteriorating
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $102M |
| Operating margin | 6.3% |
| Total margin | 8.3% |
| Days cash on hand | 0 |
| Current ratio | 2.09 |
| Occupancy | 36% |
Facility
| Beds | 52 |
| 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 | 52 | $77.8M | $11.2M | 5.0% | 12.6% | 5 | 0.32 | 44% | 2,255 | 41 |
| 2021 | 52 | $93.7M | $13.0M | 11.9% | 13.1% | 0 | 0.58 | 46% | 2,435 | 38 |
| 2022 | 52 | $103M | $14.2M | 11.4% | 13.1% | 0 | 1.03 | 40% | 2,274 | 31 |
| 2023 | 52 | $102M | $9.0M | 6.3% | 8.3% | 0 | 2.09 | 36% | 2,114 | 31 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Riverside Healthcare Association, Inc. | 5% or greater direct ownership interest | 100 | 2009-09 | |
| Riverside Integrated Services Inc | 5% or greater indirect ownership interest | 95 | 2023-07 | |
| Rector & Visitors Of The University Of Virginia | 5% or greater indirect ownership interest | 5 | 2023-07 | |
| Andre Elliott | corporate director | 2022-02 | ||
| Barbara Labonte | w-2 managing employee | 1991-01 | ||
| Caleb Fowler | corporate director | 2019-02 | ||
| Deborah Brown | w-2 managing employee | 2020-02 | ||
| Jason Houser | corporate officer | 2018-02 | ||
| Jennifer Annis | corporate director | 2022-02 | ||
| Julie Badger | corporate director | 2019-02 | ||
| Kelvin Pettit | corporate director | 2018-02 | ||
| Laura Kerbin | corporate director | 2019-02 | ||
| Michael Dacey | corporate officer | 2018-02 | ||
| Michael Dacey | corporate director | 2018-02 | ||
| Nicolas Chuquin | corporate officer | 2021-07 | ||
| Nicolas Chuquin | corporate director | 2020-02 | ||
| Richard Freeman | corporate director | 2019-02 | ||
| Richard Hubbard | corporate director | 2013-02 | ||
| Robert Crockett | corporate director | 2013-02 | ||
| Robert Leatherbury | corporate director | 2010-02 | ||
| Ronda Hall | corporate director | 2021-02 | ||
| Samuel Cooper | corporate director | 2018-02 | ||
| Tammy Holloway | corporate director | 2022-02 | ||
| Thurman Renner | corporate director | 2017-02 | ||
| Walter Austin | corporate officer | 2012-07 |
Showing 25 of 27. Full list via /api/targets/490037.
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 |