Buchanan General Hospital
Grundy, Buchanan County, VA
· CCN 490127
Licensed to Buchanan General Hospital Inc.
Composite
53.0
rank score
Distress
77
FY2024
Fit
46
vs thesis
Estimated ticket
$7.8M–$15.5M
111 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio under 1.5
- 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
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $26.4M |
| Operating margin | -14.3% |
| Total margin | -5.7% |
| Days cash on hand | 18 |
| Current ratio | 1.11 |
| Occupancy | 8% |
Facility
| Beds | 111 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 49 | $21.1M | $3.0M | -24.6% | 10.3% | 92 | 1.60 | 19% | 666 | 41 |
| 2022 | 49 | $24.5M | $214K | -17.4% | 0.7% | 48 | 1.15 | 27% | 853 | 60 |
| 2023 | 111 | $29.6M | $-3.3M | -14.3% | -11.0% | 11 | 1.02 | 9% | 719 | 79 |
| 2024 | 111 | $26.4M | $-1.6M | -14.3% | -5.7% | 18 | 1.11 | 8% | 780 | 77 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Bradley Vandyke | corporate director | 2019-02 | ||
| Danny Elswick | corporate director | 2004-04 | ||
| David Tolliver | corporate director | 2011-09 | ||
| Harold Musick | corporate director | 2013-10 | ||
| James Childress | corporate director | 2010-01 | ||
| Mary Spencer | corporate director | 2009-12 | ||
| Robert Ruchti | w-2 managing employee | 2011-12 | ||
| Tommy Coleman | corporate director | 2011-01 | ||
| Willis Smith | corporate director | 2012-01 |
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 |