Bon Secours Southside Medical Center
dba Bon Secours - Southside Medical Center ·
Petersburg, VA
· CCN 490067
Licensed to Bon Secours Mercy Health Petersburg Llc
Composite
47.4
rank score
Distress
46
FY2023
Fit
62
vs thesis
Estimated ticket
$150M–$600M
300 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- debt above 85% of assets
- occupancy 45-60%
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $262M |
| Operating margin | -2.1% |
| Total margin | 1.8% |
| Days cash on hand | 0 |
| Current ratio | 2.74 |
| Occupancy | 57% |
Facility
| Beds | 300 |
| 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 | 300 | $178M | $2.5M | -14.5% | 1.2% | 12 | 0.84 | 56% | 10,011 | 76 |
| 2021 | 307 | $244M | $12.6M | 4.0% | 5.1% | 0 | 2.56 | 57% | 10,346 | 36 |
| 2022 | 300 | $262M | $4.6M | 0.7% | 1.7% | 0 | 1.39 | 54% | 9,980 | 49 |
| 2023 | 300 | $262M | $4.9M | -2.1% | 1.8% | 0 | 2.74 | 57% | 11,816 | 46 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bon Secours Mercy Health Inc | 5% or greater indirect ownership interest | 100 | 2020-01 | chain |
| Bon Secours Richmond Llc | 5% or greater direct ownership interest | 100 | 2020-01 | |
| Birdie Jamison | corporate director | 2020-01 | ||
| Brian Yanofchick | corporate director | 2020-01 | ||
| Devon Henry | corporate director | 2024-01 | ||
| James Carter | corporate director | 2025-01 | ||
| Jeffrey Szyperski | corporate director | 2024-01 | ||
| John Starcher | operational/managerial control | 2020-01 | ||
| Kimberly Ralston | w-2 managing employee | 2020-01 | ||
| Lang Liebman | corporate director | 2022-01 | ||
| Mary Shimo | corporate director | 2022-04 | ||
| Michael Lutes | corporate director | 2022-10 | ||
| Michael Quinones | corporate director | 2023-01 | ||
| Osman Parvaiz | corporate director | 2025-01 | ||
| Paula Pando | corporate director | 2025-01 | ||
| Rebecca Mcdonough | corporate director | 2025-01 | ||
| Regina Elbert | corporate director | 2022-01 | ||
| Robert Ukrop | corporate director | 2025-01 | ||
| Wael Haidar | corporate director | 2023-01 | ||
| William Kusnierz | corporate officer | 2020-01 | ||
| William Kusnierz | corporate director | 2020-09 | ||
| William Kusnierz | w-2 managing employee | 2020-01 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2020-01-01 | change of ownership | Bon Secours Mercy Health Petersburg Llc | Petersburg Hospital Company Llc |
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 |