Vcu Health Tappahannock Hospital
Tappahannock, Essex County, VA
· CCN 490084
Licensed to Vcu Health Tappahannock Hospital
Composite
60.8
rank score
Distress
97
FY2024
Fit
43
vs thesis
Estimated ticket
$4.6M–$9.2M
66 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- occupancy below 30%
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $60.4M |
| Operating margin | -12.1% |
| Total margin | -10.7% |
| Days cash on hand | 0 |
| Current ratio | 0.05 |
| Occupancy | 27% |
Facility
| Beds | 66 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| 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 | 67 | $52.2M | $4.3M | -4.2% | 7.0% | 7 | 3.28 | 22% | 1,274 | 47 |
| 2021 | 67 | $27.7M | $-1.5M | -7.1% | -5.3% | 3 | 0.82 | 25% | 715 | 74 |
| 2022 | 67 | $51.1M | $-2.5M | -6.2% | -4.9% | 44 | 0.19 | 24% | 1,376 | 81 |
| 2023 | 57 | $59.2M | $-1.1M | -3.3% | -1.9% | 0 | 0.06 | 34% | 1,678 | 72 |
| 2024 | 66 | $60.4M | $-6.6M | -12.1% | -10.7% | 0 | 0.05 | 27% | 1,716 | 97 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Virginia Commonwealth University Health System Authority | 5% or greater direct ownership interest | 100 | 2021-01 | |
| Alexander F Dillard | corporate director | 2007-02 | ||
| Alice Burgess | corporate director | 2013-02 | ||
| Christopher Mcmillan | corporate officer | 2021-11 | ||
| Darryl Fisher | corporate director | 2010-02 | ||
| Elizabeth Harlan | w-2 managing employee | 2023-05 | ||
| Garfield Parker | corporate director | 2021-01 | ||
| George Merl Longest | corporate director | 2021-01 | ||
| Iris Lane | corporate director | 2021-01 | ||
| James Siegel | corporate officer | 2021-11 | ||
| Joshua Hammond | corporate officer | 2025-05 | ||
| Lisa Dodd | corporate director | 2021-01 | ||
| Nancy Weakley | corporate director | 2021-01 | ||
| Patricia Gallagher | corporate director | 2021-01 | ||
| Richard Farmar | corporate director | 2021-01 | ||
| Sandra Noel | w-2 managing employee | 2024-04 | ||
| William Hundley | corporate director | 2021-01 |
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 |