West Virginia University Hospitals
dba Wvu Hospitals ·
Morgantown, Monongalia County, WV
· CCN 510001
Licensed to West Virginia University Hospitals Inc
Composite
18.2
rank score
Distress
48
FY2023
Fit
55
vs thesis
Estimated ticket
$358M–$1.4B
716 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- under 30 days cash on hand
- margin slipping
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- very large — likely out of range
- estimated price exceeds the capital envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $1.8B |
| Operating margin | -14.0% |
| Total margin | 3.6% |
| Days cash on hand | 12 |
| Current ratio | 2.64 |
| Occupancy | 73% |
Facility
| Beds | 716 |
| 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 | 623 | $1.2B | $75.0M | -17.5% | 4.9% | 63 | 2.08 | 80% | 30,488 | 38 |
| 2021 | 628 | $1.4B | $175M | -12.0% | 10.1% | 45 | 2.35 | 83% | 32,138 | 44 |
| 2022 | 704 | $1.6B | $8.4M | -12.2% | 0.5% | 22 | 2.63 | 82% | 32,350 | 53 |
| 2023 | 716 | $1.8B | $74.1M | -14.0% | 3.6% | 12 | 2.64 | 73% | 36,533 | 48 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| West Virginia United Health System, Inc | 5% or greater indirect ownership interest | 100 | 1997-06 | chain |
| Clay Marsh | corporate director | 2015-04 | ||
| David Satterfield | corporate director | 2022-04 | ||
| Deborah Burge | w-2 managing employee | 2021-01 | ||
| Douglas Roach | corporate director | 2016-08 | ||
| Ellen Capprllanti | corporate director | 2020-12 | ||
| Justin Gibson | corporate officer | 2023-01 | ||
| Justin Gibson | w-2 managing employee | 2023-01 | ||
| Kari Beth Law | corporate director | 2025-03 | ||
| Lori Pride | corporate director | 2026-03 | ||
| Michael Benson | corporate director | 2026-03 | ||
| Michael D'annunzio | corporate director | 2026-03 | ||
| Michael Grace | corporate officer | 2021-12 | ||
| Michael Grace | w-2 managing employee | 2021-12 | ||
| Michelle Rotellini | corporate director | 2020-06 | ||
| Paula Congelio | corporate director | 2017-08 | ||
| Randy Williams | corporate director | 2020-06 | ||
| Sarah Tucker | corporate director | 2020-08 | ||
| Steve Ferguson | corporate director | 2018-12 | ||
| Steven Meurer | corporate director | 2015-12 | ||
| Tara Hulsey | corporate director | 2014-08 |
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 WV
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 |
|---|---|---|---|---|
| 2023-01-01 | Camc Greenbrier Valley Medical Center Inc | Greenbrier Vmc Llc | Greenbrier Valley Medical Center | 66 |
| 2020-07-01 | Wetzel County Hospital Inc | Wetzel County Hospital Association | Wetzel County Hospital | 25 |