Highland Hospital
Charleston, Kanawha County, WV
· CCN 514001
Licensed to Summit Bhc West Virginia Llc
Composite
47.4
rank score
Distress
36
FY2023
Fit
78
vs thesis
Estimated ticket
$31.6M–$126M
115 beds ·
within envelope
Ownership
nonprofit
PH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- debt above 70% of assets
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $37.3M |
| Operating margin | 14.7% |
| Total margin | 15.0% |
| Days cash on hand | 0 |
| Current ratio | -6.34 |
| Occupancy | 72% |
Facility
| Beds | 115 |
| Facility type | PH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $275K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 115 | $12.5M | $1.0M | 6.6% | 8.0% | 0 | 1.17 | 65% | 1,482 | 30 |
| 2021 | 115 | $26.1M | $4.5M | 14.8% | 16.9% | 0 | -4.89 | 61% | 1,085 | 36 |
| 2022 | 115 | $31.9M | $3.9M | 12.2% | 12.3% | 0 | 1.96 | 63% | 949 | 22 |
| 2023 | 115 | $37.3M | $5.6M | 14.7% | 15.0% | 0 | -6.34 | 72% | 1,478 | 36 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Brian Walton | corporate officer | 100 | 2026-03 | |
| Patrick Burrows | corporate officer | 100 | 2025-07 | |
| Patrick Burrows | w-2 managing employee | 100 | 2025-07 | |
| Sbhc Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Sperry Holdco Llc | 5% or greater indirect ownership interest | 100 | 2025-01 | |
| Summit Behavioral Healthcare Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Summit Behavioral Holdings I Llc | 5% or greater direct ownership interest | 100 | 2021-12 | |
| Summit Behavioral Holdings Llc | 5% or greater indirect ownership interest | 100 | 2021-12 | |
| Psc Sperry Buyer Llc | 5% or greater indirect ownership interest | 96 | 2021-12 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2020-07-01 | change of ownership | Summit Bhc West Virginia Llc | Mbh Highland Llc |
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 |
|---|---|---|---|---|
| 2020-07-01 | Summit Bhc West Virginia Llc | Mbh Highland Llc | Highland Hospital | 115 |