Morton Plant North Bay Hospital
New Port Richey, Pasco County, FL
· CCN 100063
Licensed to Morton Plant Hospital Association Inc
Composite
62.3
rank score
Distress
66
FY2023
Fit
82
vs thesis
Estimated ticket
$94.3M–$377M
222 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
- margin slipping
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $183M |
| Operating margin | -7.2% |
| Total margin | -6.2% |
| Days cash on hand | 0 |
| Current ratio | -7.34 |
| Occupancy | 71% |
Facility
| Beds | 222 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $425K |
| Per-bed (high) | $1.7M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 192 | $154M | $-8.2M | -6.1% | -5.3% | 0 | 3.24 | 77% | 10,923 | 57 |
| 2021 | 208 | $175M | $-10.4M | -7.0% | -5.9% | 0 | -12.49 | 79% | 11,723 | 70 |
| 2022 | 213 | $183M | $-4.8M | -3.2% | -2.6% | 0 | -15.43 | 75% | 11,889 | 59 |
| 2023 | 222 | $183M | $-11.5M | -7.2% | -6.2% | 0 | -7.34 | 71% | 11,686 | 66 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Baycare Health System, Inc. | operational/managerial control | 2007-05 | ||
| Benjamin Damsker | corporate director | 2018-01 | ||
| Donna Lancaster | corporate director | 2013-01 | ||
| Janice Polo | operational/managerial control | 2017-06 | ||
| Jennifer Buck | corporate director | 2024-01 | ||
| John Masson | corporate director | 2024-01 | ||
| Katherine Cole | corporate director | 2017-01 | ||
| Kimberly Guy | corporate officer | 2025-03 | ||
| Lynda Gorken | operational/managerial control | 2014-05 | ||
| Mahathi Reddy | corporate director | 2024-01 | ||
| Marion Rich | corporate director | 2019-01 | ||
| Michael Colletti | w-2 managing employee | 2026-02 | ||
| Morton Plant Hospital Association Inc | operational/managerial control | 2007-05 | ||
| Patrice Muchowski | corporate director | 2024-01 | ||
| Richard Williams | corporate director | 2024-01 | ||
| Robert Burwell | corporate director | 2014-01 | ||
| Robert Entel | corporate director | 2019-01 | ||
| Robert Roth | corporate director | 2024-01 | ||
| Robert Shaw | corporate director | 2019-01 | ||
| Ronald Beamon | operational/managerial control | 2018-05 | ||
| Stephanie Conners | other | 2023-01 | ||
| Susan Latvala | corporate director | 2017-01 | ||
| Sydney Niewierski | corporate director | 2024-01 | ||
| Vincent Ferrara | corporate director | 2024-01 | ||
| William Fisher | corporate director | 2024-01 |
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 |