Adventhealth Waterman
Tavares, Lake County, FL
· CCN 100057
Licensed to Florida Hospital Waterman Inc
Composite
32.1
rank score
Distress
0
FY2023
Fit
76
vs thesis
Estimated ticket
$144M–$576M
288 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $399M |
| Operating margin | 2.2% |
| Total margin | 12.3% |
| Days cash on hand | 314 |
| Current ratio | 7.01 |
| Occupancy | 76% |
Facility
| Beds | 288 |
| 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 | 268 | $280M | $25.6M | 2.8% | 8.6% | 473 | 7.31 | 60% | 12,989 | 2 |
| 2021 | 268 | $337M | $51.1M | 6.7% | 14.0% | 449 | 7.27 | 69% | 14,274 | 0 |
| 2022 | 288 | $339M | $-53.0M | -5.4% | -17.4% | 318 | 6.21 | 66% | 15,189 | 39 |
| 2023 | 288 | $399M | $54.6M | 2.2% | 12.3% | 314 | 7.01 | 76% | 17,680 | 0 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adventist Health System Sunbelt Healthcare Corporation | 5% or greater direct ownership interest | 100 | 2000-10 | chain |
| Amanda Brady | corporate officer | 2020-02 | ||
| Andrii Korchuk | contracted managing employee | 2024-12 | ||
| Andrii Korchuk | corporate officer | 2025-11 | ||
| Andrii Korchuk | operational/managerial control | 2024-12 | ||
| Barbara Howard | corporate director | 2009-12 | ||
| Beverly Morgan | corporate officer | 2025-08 | ||
| Brandon Nudd | contracted managing employee | 2025-10 | ||
| Brandon Nudd | corporate officer | 2025-11 | ||
| Brandon Nudd | corporate director | 2025-11 | ||
| Brandon Nudd | operational/managerial control | 2025-10 | ||
| Christine Stewart | corporate director | 2024-04 | ||
| David Huffman | corporate officer | 2020-02 | ||
| David Weiss | corporate director | 2011-06 | ||
| Debora Thomas | corporate officer | 2023-08 | ||
| Diane Godfrey | corporate officer | 2026-01 | ||
| Douglas Hilliard | corporate director | 2025-11 | ||
| Erika Skulla | corporate officer | 2026-04 | ||
| Erika Skulla | corporate director | 2026-04 | ||
| Gordon Noseworthy | corporate director | 2023-04 | ||
| Haney Vincent | corporate officer | 2021-12 | ||
| Jeffrey Graff | corporate officer | 2014-09 | ||
| Lynn Addiscott | corporate officer | 2000-01 | ||
| Marlyne Jean Pierre | corporate director | 2023-04 | ||
| Michael Fountain | corporate director | 2022-12 |
Showing 25 of 37. Full list via /api/targets/100057.
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 |