Boca Raton Regional Hospital
Boca Raton, Palm Beach County, FL
· CCN 100168
Licensed to Boca Raton Regional Hospital Inc
Composite
59.0
rank score
Distress
64
FY2023
Fit
76
vs thesis
Estimated ticket
$153M–$614M
361 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 under 1.5
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $645M |
| Operating margin | -7.0% |
| Total margin | -4.0% |
| Days cash on hand | 1 |
| Current ratio | 1.15 |
| Occupancy | 61% |
Facility
| Beds | 361 |
| 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 | 370 | $516M | $5.7M | -4.5% | 1.0% | 11 | 0.62 | 57% | 17,047 | 57 |
| 2021 | 371 | $596M | $13.0M | 1.1% | 2.2% | 2 | 0.75 | 61% | 19,522 | 42 |
| 2022 | 361 | $609M | $-36.6M | -9.6% | -5.8% | 1 | 1.22 | 63% | 20,090 | 60 |
| 2023 | 361 | $645M | $-26.9M | -7.0% | -4.0% | 1 | 1.15 | 61% | 20,633 | 64 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Ari Wirtschafter | corporate director | 2023-02 | ||
| Baptist Health South Florida Inc | operational/managerial control | 2023-02 | ||
| Boca Raton Regional Hospital Inc | operational/managerial control | 2021-10 | ||
| Charlotte Rubin | corporate director | 2023-02 | ||
| Christine Lynn | corporate officer | 2019-07 | ||
| Christopher Wheeler | corporate director | 2019-07 | ||
| Clara Bennett | corporate director | 2024-02 | ||
| David Kirschner | corporate director | 2019-07 | ||
| George Khoriaty | corporate director | 2025-01 | ||
| Haroula Norden | w-2 managing employee | 2023-02 | ||
| Helen Kelbanoff | corporate director | 2025-10 | ||
| Ira Lazar | corporate director | 2019-07 | ||
| Jay Hershoff | corporate director | 2023-02 | ||
| Jeff Hollander | corporate director | 2023-02 | ||
| Lawrence Altschul | corporate director | 2019-07 | ||
| Lawrence Feldman | corporate director | 2023-02 | ||
| Lincoln Mendez | corporate officer | 2019-07 | ||
| Matthew Arsenault | corporate officer | 2019-07 | ||
| Michael Gross | corporate director | 2019-07 | ||
| Pat Thomas | corporate director | 2023-02 | ||
| Ralph Lawson | corporate director | 2019-07 | ||
| Richard J Damron | corporate director | 2019-07 | ||
| Robert Sanda | corporate director | 2022-01 | ||
| Ronald Assaf | corporate director | 2019-07 | ||
| Sophia Eccleston | corporate director | 2019-07 |
Showing 25 of 26. Full list via /api/targets/100168.
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 |