Adventhealth Lake Wales
Lake Wales, Polk County, FL
· CCN 100099
Licensed to Adventhealth Polk South Inc
Composite
43.1
rank score
Distress
20
FY2024
Fit
80
vs thesis
Estimated ticket
$59.0M–$236M
118 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- 30-60 days cash on hand
- occupancy 30-45%
- 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
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $104M |
| Operating margin | 9.8% |
| Total margin | 12.0% |
| Days cash on hand | 57 |
| Current ratio | 2.17 |
| Occupancy | 34% |
Facility
| Beds | 118 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 93 | $62.9M | $-8.8M | -22.6% | -12.9% | 0 | 0.09 | 46% | 3,315 | 82 |
| 2022 | 11 | $78.0M | $-5.8M | -9.7% | -7.2% | 0 | 1.53 | 34% | 3,461 | 62 |
| 2023 | 142 | $87.4M | $-75.3K | -1.4% | -0.1% | 0 | 1.62 | 26% | 3,134 | 54 |
| 2024 | 118 | $104M | $12.8M | 9.8% | 12.0% | 57 | 2.17 | 34% | 3,703 | 20 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adventist Health System Sunbelt Healthcare Corporation | 5% or greater direct ownership interest | 100 | 2019-09 | chain |
| Alan Hengesbach | contracted managing employee | 2022-01 | ||
| Alan Hengesbach | corporate officer | 2022-01 | ||
| Alan Hengesbach | operational/managerial control | 2022-01 | ||
| Amanda Brady | corporate officer | 2020-02 | ||
| David Banks | corporate officer | 2022-08 | ||
| David Huffman | corporate officer | 2020-02 | ||
| Douglas Harcombe | corporate director | 2020-09 | ||
| Douglas Hilliard | corporate director | 2020-09 | ||
| Gregory Littleton | corporate director | 2020-09 | ||
| Haney Vincent | corporate officer | 2021-12 | ||
| James Guth | corporate director | 2020-09 | ||
| James Nelson | corporate director | 2020-09 | ||
| James Santana | w-2 managing employee | 2023-08 | ||
| James Santana | operational/managerial control | 2023-08 | ||
| Janice Hagensicker | corporate director | 2020-09 | ||
| Jason Dunkel | corporate director | 2022-12 | ||
| Jeffrey Graff | corporate officer | 2019-09 | ||
| Jennifer Wandersleben | corporate officer | 2021-12 | ||
| Jennifer Wandersleben | corporate director | 2020-09 | ||
| Lynn Addiscott | corporate officer | 2019-09 | ||
| Michael Saunders | corporate officer | 2019-09 | ||
| Robert Foltz | corporate officer | 2019-09 | ||
| Royce Brown | contracted managing employee | 2021-05 | ||
| Royce Brown | corporate officer | 2021-06 |
Showing 25 of 27. Full list via /api/targets/100099.
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2019-09-01 | change of ownership | Adventhealth Polk South Inc | Lake Wales Hospital Corporation |
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 |