Manchester Memorial Hospital
Manchester, Hartford County, CT
· CCN 070027
Licensed to Manchester Memorial Hospital, Inc.
Composite
72.5
rank score
Distress
89
FY2023
Fit
81
vs thesis
Estimated ticket
$43.0M–$172M
123 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $208M |
| Operating margin | -19.5% |
| Total margin | -15.4% |
| Days cash on hand | 3 |
| Current ratio | 0.71 |
| Occupancy | 62% |
Facility
| Beds | 123 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 140 | $184M | $13.5M | -3.8% | 6.6% | 0 | 1.68 | 56% | 6,352 | 44 |
| 2021 | 139 | $205M | $2.7M | 1.7% | 1.3% | 0 | 0.90 | 60% | 7,037 | 46 |
| 2022 | 139 | $208M | $7.1M | -6.8% | 3.1% | 0 | 1.07 | 54% | 6,547 | 54 |
| 2023 | 123 | $208M | $-33.5M | -19.5% | -15.4% | 3 | 0.71 | 62% | 6,888 | 89 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hartford Healthcare Corporation | 5% or greater direct ownership interest | 100 | 2026-01 | |
| Adam Steinberg | corporate officer | 2026-01 | ||
| Chibueze Agba | corporate director | 2026-01 | ||
| David Mack | corporate director | 2026-01 | ||
| Gerald Boisvert | corporate officer | 2026-01 | ||
| Gerald Boisvert | w-2 managing employee | 2026-01 | ||
| Jeffrey Flaks | corporate officer | 2026-01 | ||
| Karen Goyette | corporate director | 2026-01 | ||
| Sheryl Decilio | corporate director | 2026-01 | ||
| Sheryl Decilio | w-2 managing employee | 2026-01 |
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 CT
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 |
|---|---|---|---|---|
| 2019-10-01 | Svmc Holdings, Inc | St. Vincent's Medical Center | St. Vincents Medical Center | 219 |
| 2019-06-09 | Bridgeport Hospital | Milford Hospital, Inc | Bridgeport Hospital | 390 |
| 2017-08-01 | Vassar Health Connecticut Inc | Essent Healthcare Of Connecticut, Inc. | Sharon Hospital | 50 |