Indian River Memorial Hospita.l
dba Cleveland Clinic Indian River Hospital ·
Vero Beach, Indian River County, FL
· CCN 100105
Licensed to Indian River Memorial Hospital, Inc.
Composite
63.7
rank score
Distress
70
FY2023
Fit
80
vs thesis
Estimated ticket
$108M–$434M
310 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- 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 | $372M |
| Operating margin | -23.0% |
| Total margin | -17.0% |
| Days cash on hand | 0 |
| Current ratio | 1.89 |
| Occupancy | 61% |
Facility
| Beds | 310 |
| 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 | 310 | $293M | $3.8M | -10.6% | 1.1% | 36 | 1.58 | 48% | 13,216 | 50 |
| 2021 | 310 | $332M | $-42.3M | -16.8% | -12.2% | 27 | 0.80 | 59% | 14,447 | 78 |
| 2022 | 310 | $379M | $-73.9M | -23.1% | -18.8% | 3 | 0.57 | 62% | 14,811 | 84 |
| 2023 | 310 | $372M | $-66.6M | -23.0% | -17.0% | 0 | 1.89 | 61% | 15,545 | 70 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Cleveland Clinic Florida Regional Health System Nonprofit Corporation | 5% or greater direct ownership interest | 100 | 2019-01 | |
| Cleveland Clinic Florida Regional Health System Nonprofit Corporation | operational/managerial control | 100 | 2019-01 | |
| The Cleveland Clinic Foundation | 5% or greater indirect ownership interest | 100 | 2019-01 | |
| Amanda Parina | w-2 managing employee | 2021-09 | ||
| Barbara Del Castillo | corporate officer | 2021-10 | ||
| Barbara Del Castillo | corporate director | 2023-03 | ||
| Conor Delaney | corporate director | 2020-10 | ||
| David Cato | corporate officer | 2021-10 | ||
| David Cato | corporate director | 2021-10 | ||
| Dennis Laraway | corporate officer | 2023-03 | ||
| Frederick Ross | corporate director | 2024-02 | ||
| Glenn Zirbser | corporate director | 2025-06 | ||
| James Forbes | corporate director | 2024-05 | ||
| John Lindenthal | corporate director | 2021-12 | ||
| Judith Lafage | corporate director | 2023-10 | ||
| Juliette Lomax-Homier | corporate director | 2019-01 | ||
| Kirsten Kubit | w-2 managing employee | 2025-01 | ||
| Lori Posk | corporate director | 2021-04 | ||
| Marybeth Cunningham | corporate director | 2019-01 | ||
| Matthew Reiser | corporate director | 2019-01 | ||
| Michael Hammes | corporate officer | 2022-03 | ||
| Michael Hammes | corporate director | 2019-01 | ||
| Richard Rothman | corporate director | 2024-08 | ||
| Robert Oblander | corporate officer | 2019-01 | ||
| Robert Oblander | corporate director | 2023-03 |
Showing 25 of 30. Full list via /api/targets/100105.
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 |