Community Memorial Hospital
South Hill, Mecklenburg County, VA
· CCN 490098
Licensed to Community Memorial Hospital
Composite
63.2
rank score
Distress
90
FY2024
Fit
52
vs thesis
Estimated ticket
$4.9M–$9.8M
70 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 liabilities exceed current assets
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- moderate occupancy
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $146M |
| Operating margin | -20.6% |
| Total margin | -18.2% |
| Days cash on hand | 25 |
| Current ratio | 0.94 |
| Occupancy | 59% |
Facility
| Beds | 70 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 70 | $128M | $-12.3M | -22.8% | -8.5% | 31 | 1.52 | 62% | 3,151 | 61 |
| 2022 | 70 | $118M | $-47.0M | -39.1% | -39.9% | 18 | 1.03 | 64% | 3,200 | 78 |
| 2023 | 66 | $135M | $-39.7M | -31.0% | -28.9% | 21 | 0.96 | 62% | 2,968 | 83 |
| 2024 | 70 | $146M | $-27.0M | -20.6% | -18.2% | 25 | 0.94 | 59% | 3,315 | 90 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Christopher Mcmillan | corporate officer | 2021-11 | ||
| Christopher Mcmillan | w-2 managing employee | 2021-11 | ||
| Elizabeth Harlan | w-2 managing employee | 2023-05 | ||
| James Siegel | corporate officer | 2021-11 | ||
| James Siegel | w-2 managing employee | 2021-07 | ||
| Phyllis Cavan | w-2 managing employee | 2025-03 | ||
| Sandra Noel | w-2 managing employee | 2024-04 | ||
| Sheldon Barr | w-2 managing employee | 2023-01 | ||
| Virginia Commonwealth University Health System Authority | 5% or greater direct ownership interest | 2014-07 | chain |
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 |