Homestead Hospital
Homestead, Miami-Dade County, FL
· CCN 100125
Licensed to Homestead Hospital Inc
Composite
74.7
rank score
Distress
90
FY2023
Fit
86
vs thesis
Estimated ticket
$55.6M–$223M
159 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- current liabilities exceed current assets
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $253M |
| Operating margin | -18.1% |
| Total margin | -16.6% |
| Days cash on hand | 0 |
| Current ratio | 0.88 |
| Occupancy | 50% |
Facility
| Beds | 159 |
| 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 | 197 | $224M | $-14.1M | -10.6% | -6.0% | 0 | 0.48 | 45% | 7,476 | 92 |
| 2021 | 159 | $260M | $10.1M | -3.1% | 3.6% | 0 | 0.96 | 60% | 7,225 | 60 |
| 2022 | 159 | $270M | $-26.5M | -11.1% | -9.7% | 0 | 1.10 | 52% | 6,734 | 83 |
| 2023 | 159 | $253M | $-42.5M | -18.1% | -16.6% | 0 | 0.88 | 50% | 7,486 | 90 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Albert Boulenger | w-2 managing employee | 2023-03 | ||
| Ana Cabrera | w-2 managing employee | 2020-04 | ||
| Baptist Health South Florida Inc | operational/managerial control | 1995-06 | ||
| Bill Tillet | corporate director | 2011-09 | ||
| David Abercrombie | w-2 managing employee | 2020-04 | ||
| David Trueba | corporate director | 2022-02 | ||
| George E Cadman Iii | corporate director | 2014-10 | ||
| Homestead Hospital Inc | operational/managerial control | 1995-06 | ||
| Jeanne Jacobs | corporate director | 2009-07 | ||
| Johanna Paterson | corporate director | 2008-11 | ||
| John Maas | corporate director | 2008-07 | ||
| Jose Prado | corporate director | 2019-02 | ||
| Kenneth Spell | corporate officer | 2019-07 | ||
| Kenneth Spell | w-2 managing employee | 2019-07 | ||
| Maria Costa Smith | corporate director | 2008-11 | ||
| Mark Hernandez | corporate director | 2020-10 | ||
| Matthew Arsenault | corporate officer | 2018-09 | ||
| Matthew Arsenault | w-2 managing employee | 2018-09 | ||
| Rene Taylor | corporate director | 2008-10 | ||
| Steven Sapp | corporate director | 1995-06 | ||
| Subbarao Uppaluri | corporate director | 2019-04 | ||
| William Chambers Iii | corporate director | 1995-06 | ||
| Willie Carpenter | corporate director | 1995-06 |
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 |