North Okaloosa Medical Center
Crestview, Okaloosa County, FL
· CCN 100122
Licensed to Crestview Hospital Company Llc
Composite
52.6
rank score
Distress
34
FY2024
Fit
88
vs thesis
Estimated ticket
$55.0M–$220M
110 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- under 30 days cash on hand
- current ratio below 0.8
- 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
- for-profit — no charitable conversion review
Latest financials · FY2024
| Net patient revenue | $129M |
| Operating margin | 46.6% |
| Total margin | 46.8% |
| Days cash on hand | 0 |
| Current ratio | -0.05 |
| Occupancy | 55% |
Facility
| Beds | 110 |
| Facility type | STH |
| Setting | urban |
| Ownership class | for-profit |
| 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 | 110 | $96.1M | $34.2M | 40.3% | 37.4% | 0 | -0.06 | 54% | 4,409 | 38 |
| 2022 | 110 | $111M | $42.4M | 37.7% | 38.0% | 0 | -0.06 | 61% | 4,657 | 36 |
| 2023 | 110 | $120M | $52.0M | 42.3% | 42.9% | 0 | -0.07 | 64% | 5,499 | 36 |
| 2024 | 110 | $129M | $60.5M | 46.6% | 46.8% | 0 | -0.05 | 55% | 5,422 | 34 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Chs Community Health Systems Inc | 5% or greater indirect ownership interest | 100 | 2007-01 | chain |
| Community Health Investment Company Llc | 5% or greater indirect ownership interest | 100 | 2007-01 | |
| Community Health Systems Inc | 5% or greater indirect ownership interest | 100 | 2007-01 | |
| North Okaloosa Medical Company Llc | 5% or greater direct ownership interest | 100 | 2023-02 | |
| Christopher Cobb | corporate officer | 2013-04 | ||
| Edna Buffington-Price | corporate director | 2022-03 | ||
| Jason Johnson | corporate officer | 2020-01 | ||
| Justin Pitt | corporate officer | 2022-03 | ||
| Justin Pitt | corporate director | 2022-03 | ||
| Kevin Hammons | corporate officer | 2022-03 | ||
| Kevin Hammons | corporate director | 2022-03 | ||
| Michael Nordness | w-2 managing employee | 2022-01 | ||
| Nathaniel Summar | corporate director | 2017-07 | ||
| Paula Lalor | corporate director | 2017-04 | ||
| Roman Ottinger | corporate officer | 2020-01 | ||
| William Cash | corporate officer | 2018-06 |
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 |