Gulf Coast Medical Center
Fort Myers, Lee County, FL
· CCN 100220
Licensed to Lee Health System Inc
Already transacted. CMS recorded an ownership change effective
2024-11-01. Confirm the current owner before spending a call on this.
Composite
6.1
rank score
Distress
31
FY2023
Fit
68
vs thesis
Estimated ticket
$312M–$1.2B
624 beds ·
over envelope
Ownership
for-profit
STH
Why it ranks here
- current ratio below 0.8
- debt above 85% of assets
- margin deteriorating
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- very large — likely out of range
- estimated price exceeds the capital envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
- changed ownership 2024-11-01 — likely already transacted
Latest financials · FY2023
| Net patient revenue | $721M |
| Operating margin | 19.2% |
| Total margin | 19.9% |
| Days cash on hand | — |
| Current ratio | 0.03 |
| Occupancy | 76% |
Facility
| Beds | 624 |
| 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 | 572 | $427M | $97.9M | 22.2% | 22.8% | — | 0.63 | 53% | 20,240 | 20 |
| 2021 | 624 | $558M | $147M | 25.8% | 26.2% | — | 1.01 | 69% | 23,639 | 4 |
| 2022 | 624 | $664M | $136M | 20.1% | 20.3% | — | 2.44 | 72% | 25,527 | 0 |
| 2023 | 624 | $721M | $145M | 19.2% | 19.9% | — | 0.03 | 76% | 27,786 | 31 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Lee Health System Inc | 5% or greater direct ownership interest | 100 | 2024-11 | chain |
| Benjamin Spence | corporate officer | 2024-11 | ||
| Benjamin Spence | w-2 managing employee | 2024-11 | ||
| Dane Allen | corporate director | 2024-11 | ||
| David Collins | corporate director | 2025-01 | ||
| David Klein | corporate director | 2025-01 | ||
| David Pryor | corporate director | 2025-08 | ||
| Diana Katich | w-2 managing employee | 2024-11 | ||
| Diane Champion | corporate director | 2025-01 | ||
| Donna Clarke | corporate director | 2025-01 | ||
| Joeseph Catti | corporate director | 2025-01 | ||
| Kathy Bridge-Liles | corporate director | 2025-01 | ||
| Lawrence Antonucci | corporate officer | 2024-11 | ||
| Lawrence Antonucci | corporate director | 2024-11 | ||
| Nancy Mcgovern | corporate director | 2024-11 | ||
| Peter Andruszkiewicz | corporate director | 2025-01 | ||
| Samira Beckwith | corporate director | 2025-08 | ||
| Stephen Brown | corporate director | 2025-01 | ||
| Therese Everly | corporate director | 2025-01 | ||
| William Gruver | corporate director | 2025-01 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2024-11-01 | change of ownership | Lee Health System Inc | Lee Memorial Health System |
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 |