Adventhealth - North Pinellas
dba Adventhealth North Pinellas ·
Tarpon Springs, Pinellas County, FL
· CCN 100055
Licensed to Tarpon Springs Hospital Foundation Inc
Composite
68.5
rank score
Distress
72
FY2023
Fit
86
vs thesis
Estimated ticket
$47.6M–$190M
136 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin -8% to -3%
- under 30 days cash on hand
- current ratio below 0.8
- debt above 85% of assets
- occupancy 45-60%
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $164M |
| Operating margin | -6.0% |
| Total margin | -4.8% |
| Days cash on hand | 0 |
| Current ratio | -0.81 |
| Occupancy | 56% |
Facility
| Beds | 136 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| 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 | 136 | $120M | $-7.8M | -9.4% | -6.3% | 0 | 0.94 | 46% | 4,853 | 68 |
| 2021 | 136 | $137M | $-2.7M | -6.0% | -1.9% | 0 | 1.26 | 53% | 5,015 | 58 |
| 2022 | 136 | — | $-167M | — | — | — | — | 57% | 6,379 | — |
| 2023 | 136 | $164M | $-7.9M | -6.0% | -4.8% | 0 | -0.81 | 56% | 6,783 | 72 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adventist Health System Sunbelt Healthcare Corporation | 5% or greater indirect ownership interest | 100 | 2010-09 | chain |
| University Community Hospital Inc | 5% or greater direct ownership interest | 100 | 2000-09 | |
| Andrew Santos | contracted managing employee | 2025-01 | ||
| Andrew Santos | corporate officer | 2025-01 | ||
| Andrew Santos | corporate director | 2025-01 | ||
| Andrew Santos | operational/managerial control | 2025-01 | ||
| James Santana | operational/managerial control | 2022-01 | ||
| Jason Newmyer | corporate director | 2023-03 | ||
| Jennifer Wandersleben | corporate director | 2025-01 | ||
| Jonathan Pienado | corporate director | 2023-08 | ||
| Mark Schiefer | corporate director | 2012-01 | ||
| Mike Kouskoutis | corporate officer | 2011-01 | ||
| Minh Dang | contracted managing employee | 2025-04 | ||
| Minh Dang | corporate officer | 2025-04 | ||
| Minh Dang | operational/managerial control | 2025-04 | ||
| Paul Arnold | corporate director | 2019-01 | ||
| Rodrigo Davis | corporate director | 2023-08 | ||
| Rosanne Pappas | corporate director | 2023-08 | ||
| Scheri-Lyn Makombe | corporate director | 2024-09 | ||
| Shannon Sprowls | corporate director | 2023-08 | ||
| Thomas Carson | corporate director | 2011-01 | ||
| University Community Hospital Inc | operational/managerial control | 2000-09 | ||
| Vadym Didenko | corporate director | 2017-01 |
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 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 |