Larkin Hosp Palm Springs Campus Llc
Hialeah, Miami-Dade County, FL
· CCN 100050
Licensed to Larkin Community Hospital Palm Springs Campus, Llc
Composite
75.7
rank score
Distress
94
FY2023
Fit
84
vs thesis
Estimated ticket
$41.6M–$167M
119 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
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- thin occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $75.0M |
| Operating margin | -14.7% |
| Total margin | -9.3% |
| Days cash on hand | 0 |
| Current ratio | 0.55 |
| Occupancy | 40% |
Facility
| Beds | 119 |
| 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 | 119 | $63.8M | $14.5M | -12.9% | 16.8% | 30 | 0.81 | 63% | 2,697 | 67 |
| 2021 | 119 | $72.7M | $978K | -2.6% | 1.3% | 0 | 0.91 | 54% | 2,978 | 60 |
| 2022 | 119 | $-252M | $-332M | 131.3% | 131.3% | — | — | 44% | 3,148 | 10 |
| 2023 | 119 | $75.0M | $-7.3M | -14.7% | -9.3% | 0 | 0.55 | 40% | 3,008 | 94 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Larkin Health System, Llc | 5% or greater direct ownership interest | 100 | 2016-01 | |
| Larkin Health System, Llc | other | 100 | 2020-09 | |
| Mark Early | corporate director | 2016-01 | ||
| Yoely Hernandez | corporate officer | 2021-10 | ||
| Yoely Hernandez | w-2 managing employee | 2021-10 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2016-02-01 | change of ownership | Larkin Community Hospital Palm... | Palm Springs General Hospital... |
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 |