Palmetto General Hospital
Hialeah, Miami-Dade County, FL
· CCN 100187
Licensed to Hsa Pgh Llc
Already transacted. CMS recorded an ownership change effective
2024-10-30. Confirm the current owner before spending a call on this.
Composite
14.7
rank score
Distress
26
FY2024
Fit
76
vs thesis
Estimated ticket
$179M–$716M
358 beds ·
within envelope
Ownership
for-profit
STH
Why it ranks here
- current ratio under 1.5
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size well above the envelope
- moderate occupancy
- for-profit — no charitable conversion review
- changed ownership 2024-10-30 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $358M |
| Operating margin | 10.4% |
| Total margin | 12.0% |
| Days cash on hand | — |
| Current ratio | 1.48 |
| Occupancy | 53% |
Facility
| Beds | 358 |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 363 | $306M | $36.9M | 3.4% | 11.1% | 0 | 1.08 | 58% | 17,215 | 28 |
| 2021 | 360 | $206M | $29.3M | 13.5% | 14.1% | 0 | 1.43 | 61% | 10,987 | 26 |
| 2022 | 358 | $241M | $-12.7M | -6.9% | -5.2% | 2 | 0.67 | 57% | 13,175 | 83 |
| 2023 | 358 | $297M | $-10.6M | -8.0% | -3.4% | 1 | 1.24 | 56% | 17,083 | 73 |
| 2024 | 358 | $358M | $44.0M | 10.4% | 12.0% | — | 1.48 | 53% | 15,014 | 26 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Healthcare Systems Of America -Florida Llc | 5% or greater direct ownership interest | 100 | 2024-10 | |
| Mike Sarian | 5% or greater indirect ownership interest | 100 | 2024-10 | |
| Aimee Gill | contracted managing employee | 2024-10 | ||
| Aimee Gill | operational/managerial control | 2024-10 | ||
| Healthcare Systems Of America | 5% or greater indirect ownership interest | 2024-10 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2024-10-30 | change of ownership | Hsa Pgh Llc | Steward Pgh, Inc. |
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 |