War Memorial Hospital
Berkeley Springs, Morgan County, WV
· CCN 511309
Licensed to War Memorial Hospital, Inc.
Composite
34.4
rank score
Distress
31
FY2023
Fit
51
vs thesis
Estimated ticket
$2.1M–$4.2M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- occupancy 30-45%
- margin deteriorating
- urban — higher occupancy and iteration surface
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $34.4M |
| Operating margin | 3.7% |
| Total margin | 8.1% |
| Days cash on hand | 10 |
| Current ratio | 1.56 |
| Occupancy | 42% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $23.8M | $3.7M | -12.0% | 12.1% | 121 | 1.64 | 33% | 295 | 38 |
| 2021 | 25 | $28.7M | $1.8M | -1.1% | 6.0% | 186 | 2.32 | 37% | 287 | 21 |
| 2022 | 25 | $33.2M | $3.3M | 5.3% | 9.6% | 13 | 1.55 | 37% | 392 | 28 |
| 2023 | 25 | $34.4M | $2.9M | 3.7% | 8.1% | 10 | 1.56 | 42% | 503 | 31 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| East Mountain Health Advantage Inc | 5% or greater direct ownership interest | 2010-03 | ||
| Jill Chambers | w-2 managing employee | 2017-09 | ||
| Robert Amos | corporate officer | 2009-10 | ||
| Valley Health System | 5% or greater direct ownership interest | 2010-03 |
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 |
|---|---|---|---|---|
| 2023-07-01 | Grant Memorial Hospital Inc | Grant Memorial Hospital | Grant Memorial Hospital | 25 |
| 2023-04-01 | Camc Plateau Medical Center, Inc. | Oak Hill Hospital Corporation | Plateau Medical Center | 25 |
| 2022-01-01 | Webster Memorial Hospital Inc | Webster County Memorial Hospital | Webster Memorial Hospital | 25 |
| 2020-10-01 | Marietta Memorial Hospital Of... | City Of Sistersville | Sistersville General Hospital | 6 |
| 2019-07-01 | West Virginia Health Care Cooperative Inc | Summersville Regional Medical Center | Summersville Regional Med Center | 25 |