Baptist Hospital
dba Baptist Hospital Of Miami ·
Miami, Miami-Dade County, FL
· CCN 100008
Licensed to Baptist Hospital Of Miami Inc
Composite
14.8
rank score
Distress
20
FY2023
Fit
66
vs thesis
Estimated ticket
$336M–$1.3B
672 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- under 30 days cash on hand
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- very large — likely out of range
- estimated price exceeds the capital envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $1.9B |
| Operating margin | 15.7% |
| Total margin | 19.3% |
| Days cash on hand | 0 |
| Current ratio | 1.90 |
| Occupancy | 78% |
Facility
| Beds | 672 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $500K |
| Per-bed (high) | $2.0M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 838 | $1.3B | $161M | 4.7% | 11.4% | 0 | 0.42 | 61% | 27,050 | 36 |
| 2021 | 838 | $1.5B | $292M | 9.6% | 17.3% | 0 | 1.23 | 69% | 29,292 | 26 |
| 2022 | 948 | $1.7B | $272M | 10.8% | 15.1% | 0 | 2.12 | 58% | 27,424 | 24 |
| 2023 | 672 | $1.9B | $386M | 15.7% | 19.3% | 0 | 1.90 | 78% | 27,383 | 20 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Albert Boulenger | w-2 managing employee | 2023-03 | ||
| Angie Spivak | corporate director | 2023-07 | ||
| Baptist Health South Florida Inc | operational/managerial control | 1995-06 | chain | |
| Baptist Hospital Of Miami Inc | operational/managerial control | 1995-06 | ||
| Calvin Babcock | corporate director | 1991-10 | ||
| Carlos Rodriguez | corporate director | 2025-01 | ||
| Carmen Perez-Carlton | corporate director | 2023-07 | ||
| Charlie Martinez | corporate director | 2005-06 | ||
| Elizabeth Diaz De Villagas | corporate director | 2010-03 | ||
| Gary Johnson | corporate director | 2006-09 | ||
| Jason James | corporate director | 2023-07 | ||
| Juan Cendan | corporate director | 2023-12 | ||
| Lani Kahn Drody | corporate director | 2019-02 | ||
| Laura Kaplan | corporate director | 2023-12 | ||
| Manuel Lasaga | corporate director | 1992-12 | ||
| Maria Leiva | corporate director | 2005-09 | ||
| Matthew Arsenault | corporate officer | 2016-12 | ||
| Matthew Arsenault | w-2 managing employee | 2023-06 | ||
| Orlando Bajos | corporate director | 2004-08 | ||
| Ricardo Martinez | corporate director | 2023-07 | ||
| Tobin Cobb | corporate director | 2025-11 | ||
| William Ulbricht | corporate officer | 2022-05 | ||
| William White | corporate director | 1995-05 |
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 FL
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 |
|---|---|---|---|---|
| 2025-08-01 | Galen Of Florida Inc | West Florida - Pph, Llc | St. Petersburg General | 162 |
| 2025-03-01 | Adventhealth Port Charlotte Inc | Port Charlotte Hma Llc | Bayfront Health Port Charlotte | 254 |
| 2025-02-27 | Hope 97 Llc | Prime Healthcare Services-Lehigh Acres Llc | Lehigh Regional | 53 |
| 2024-11-01 | Lee Health System Inc | Lee Memorial Health System | Gulf Coast Medical Center | 624 |
| 2024-11-01 | Lee Health System Inc | Lee Memorial Health System | Lee Memorial Hospital | 746 |
| 2024-10-30 | Hsa Cgh Llc | Steward Cgh Inc | Coral Gables Hospital | 245 |
| 2024-10-30 | Hsa Hh Llc | Steward Hh, Inc. | Hialeah Hospital | 340 |
| 2024-10-30 | Hsa Pgh Llc | Steward Pgh, Inc. | Palmetto General Hospital | 358 |
| 2024-10-30 | Hsa Nsmc Llc | Steward Nsmc Inc | North Shore Medical Center And Fmc | 748 |
| 2024-10-23 | Ohsrh, Llc | Steward Sebastian River Medical Center Inc | Sebastian River Medical Center | 145 |
| 2023-12-01 | Tampa General Hospital Citrus Llc | Citrus Hma Llc | Seven Rivers Regional Medical Center | 121 |
| 2023-12-01 | Tampa General Hospital Hernando Llc | Hernando Hma Llc | Brooksville Regional Hosptal | 244 |
| 2020-10-01 | Ohi West, Inc. | Bayfront Hma Medical Center Llc | Bayfront Health St. Petersburg | 262 |
| 2019-09-01 | Adventhealth Polk South Inc | Lake Wales Hospital Corporation | Adventhealth Lake Wales | 118 |
| 2019-09-01 | Adventhealth Polk North Inc | Haines City Hma Llc | Adventhealth Heart Of Florida | 202 |