Norwalk Hospital
Norwalk, Fairfield County, CT
· CCN 070034
Licensed to Norwalk Hospital Association
Composite
54.5
rank score
Distress
66
FY2023
Fit
62
vs thesis
Estimated ticket
$15.8M–$31.6M
186 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin -8% to -3%
- under 30 days cash on hand
- margin deteriorating sharply
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $355M |
| Operating margin | -16.6% |
| Total margin | -4.9% |
| Days cash on hand | 12 |
| Current ratio | 1.76 |
| Occupancy | 60% |
Facility
| Beds | 186 |
| Facility type | STH |
| Setting | rural |
| 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 | 236 | $321M | $6.2M | -19.0% | 1.6% | 91 | 1.64 | 50% | 9,126 | 38 |
| 2021 | 218 | $345M | $22.0M | -8.2% | 5.8% | 4 | 1.33 | 51% | 8,688 | 50 |
| 2022 | 218 | $335M | $-48.4M | -17.7% | -13.6% | 7 | 1.69 | 52% | 8,889 | 69 |
| 2023 | 186 | $355M | $-18.9M | -16.6% | -4.9% | 12 | 1.76 | 60% | 8,468 | 66 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Northwell Health System, Inc. | 5% or greater indirect ownership interest | 100 | 2025-05 | |
| Northwell, Inc. | 5% or greater indirect ownership interest | 100 | 2025-05 | |
| Nuvance Health | 5% or greater indirect ownership interest | 100 | 2019-04 | |
| Western Connecticut Health Network | 5% or greater direct ownership interest | 100 | 2014-10 | |
| Anne Roby | corporate director | 2025-05 | ||
| Daniel Debarba | corporate director | 2022-10 | ||
| Daniel Debarba | w-2 managing employee | 2022-10 | ||
| Donald Jones | corporate director | 2025-05 | ||
| Ervin Shames | corporate director | 2025-05 | ||
| Francoise Dunefsky | corporate director | 2025-05 | ||
| Gregory Rakow | corporate director | 2025-05 | ||
| Howard Gold | corporate director | 2025-05 | ||
| Javid Shahid | corporate director | 2025-05 | ||
| John Murphy | corporate director | 2014-10 | ||
| John Murphy | w-2 managing employee | 2014-10 | ||
| Joseph Divestea | corporate director | 2025-05 | ||
| Kathleen Gallo | corporate director | 2025-05 | ||
| Margaret Crotty | corporate director | 2025-05 | ||
| Mark Gudis | corporate director | 2025-05 | ||
| Mark Solazzo | corporate director | 2025-05 | ||
| Michael Dowling | corporate director | 2025-05 | ||
| Michael Feldman | corporate director | 2025-05 | ||
| Michael Nesheiwat | corporate director | 2025-05 | ||
| Nicole Schulz | corporate officer | 2024-01 | ||
| Nicole Schulz | corporate director | 2024-01 |
Showing 25 of 32. Full list via /api/targets/070034.
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 |