Summersville Regional Med Center
dba Summersville Regional Medical Center ·
Summersville, Nicholas County, WV
· CCN 511322
Licensed to West Virginia Health Care Cooperative Inc
Composite
47.8
rank score
Distress
55
FY2023
Fit
53
vs thesis
Estimated ticket
$1.8M–$3.6M
25 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- 60-90 days cash on hand
- margin deteriorating sharply
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- small but workable bed count
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $57.6M |
| Operating margin | -19.3% |
| Total margin | -6.9% |
| Days cash on hand | 71 |
| Current ratio | 1.85 |
| Occupancy | 73% |
Facility
| Beds | 25 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $72.2K |
| Per-bed (high) | $144K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $51.0M | $7.5M | 2.6% | 12.6% | 121 | 2.11 | 59% | 1,235 | 11 |
| 2021 | 25 | $60.0M | $7.6M | 6.4% | 11.9% | 151 | 2.15 | 73% | 1,099 | 0 |
| 2022 | 25 | $60.6M | $6.0M | 0.3% | 9.0% | 126 | 2.59 | 77% | 1,592 | 11 |
| 2023 | 25 | $57.6M | $-4.4M | -19.3% | -6.9% | 71 | 1.85 | 73% | 1,809 | 55 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| West Virginia United Health System, Inc | 5% or greater indirect ownership interest | 100 | 2019-01 | chain |
| Bradley Willis | corporate director | 2023-01 | ||
| David Hess | corporate director | 2026-05 | ||
| Forest Hannah | corporate officer | 2026-05 | ||
| Forest Hannah | w-2 managing employee | 2026-05 | ||
| Forest Hannah | operational/managerial control | 2026-05 | ||
| Gregory Sproles | corporate director | 2024-03 | ||
| Jamberlyn Antoline | corporate director | 2026-05 | ||
| John Foster | corporate director | 2023-01 | ||
| Leslie Lawson | contracted managing employee | 2026-05 | ||
| Leslie Lawson | corporate officer | 2026-05 | ||
| Leslie Lawson | w-2 managing employee | 2026-05 | ||
| Melissa Marshall | corporate director | 2026-05 | ||
| Wayne Young | corporate director | 2023-11 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2019-07-01 | change of ownership | West Virginia Health Care... | Summersville Regional Medical Center |
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 |