Martin Medical Center
dba Cleveland Clinic Martin North, South, Tradition Hospitals ·
Stuart, Martin County, FL
· CCN 100044
Licensed to Martin Memorial Medical Center Inc
Composite
17.9
rank score
Distress
41
FY2023
Fit
66
vs thesis
Estimated ticket
$260M–$1.0B
521 beds ·
over envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- 90-150 days cash on hand
- margin deteriorating sharply
- 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 | $632M |
| Operating margin | -6.0% |
| Total margin | -2.8% |
| Days cash on hand | 110 |
| Current ratio | 5.46 |
| Occupancy | 75% |
Facility
| Beds | 521 |
| 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 | 521 | — | $-495M | — | — | — | — | 56% | 24,833 | — |
| 2021 | 521 | $574M | $49.8M | 1.2% | 8.1% | 179 | 3.04 | 68% | 27,626 | 7 |
| 2022 | 521 | $847M | $322M | 33.0% | 36.2% | 179 | 3.04 | 73% | 27,626 | 0 |
| 2023 | 521 | $632M | $-18.3M | -6.0% | -2.8% | 110 | 5.46 | 75% | 33,152 | 41 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| The Cleveland Clinic Foundation | 5% or greater indirect ownership interest | 100 | 2019-01 | |
| Amanda Parina | w-2 managing employee | 2021-09 | ||
| Barbara Del Castillo | corporate officer | 2021-09 | ||
| Beth Mooney | corporate director | 2019-01 | ||
| Chirag Choudhary | corporate officer | 2025-10 | ||
| Cleveland Clinic Florida Regional Health System Nonprofit Corporation | 5% or greater indirect ownership interest | 2019-01 | ||
| Conor Delaney | corporate director | 2020-10 | ||
| David Cato | corporate officer | 2022-02 | ||
| Dennis Laraway | corporate officer | 2023-03 | ||
| Frederic Salerno | corporate director | 2019-01 | ||
| Glenn Zirbser | corporate officer | 2025-06 | ||
| Harold Scott | corporate director | 2019-01 | ||
| Heidi Sathre | w-2 managing employee | 2019-08 | ||
| Martin Memorial Health Systems, Inc. | 5% or greater indirect ownership interest | 2019-01 | ||
| Michael Hammes | corporate director | 2022-03 | ||
| Michael Maroone | corporate director | 2019-01 | ||
| Michael Petras | corporate director | 2019-01 | ||
| Patrick Ryan | corporate director | 2021-09 | ||
| Robert Oblander | corporate officer | 2019-01 | ||
| Robert Rich | corporate director | 2019-01 | ||
| Robert Weber | corporate director | 2019-01 | ||
| Sarah Vogler | corporate director | 2024-08 | ||
| Sean Lang | corporate director | 2021-09 | ||
| Sharron Foster | w-2 managing employee | 2019-08 | ||
| Theora Webb | corporate director | 2019-01 |
Showing 25 of 30. Full list via /api/targets/100044.
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 |