Mariners Hospital
Tavernier, Monroe County, FL
· CCN 101313
Licensed to Mariners Hospital Inc
Composite
33.6
rank score
Distress
31
FY2023
Fit
44
vs thesis
Estimated ticket
$1.4M–$2.7M
16 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- under 30 days cash on hand
- current ratio under 1.5
- occupancy below 30%
- part of a multi-hospital chain — divestiture candidate
- rural — cheaper but limited density
- very small facility
- very small ticket — sub-scale as a platform asset
- very low occupancy — limited volume to learn from
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $81.1M |
| Operating margin | 22.5% |
| Total margin | 23.8% |
| Days cash on hand | 0 |
| Current ratio | 1.15 |
| Occupancy | 22% |
Facility
| Beds | 16 |
| Facility type | CAH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $85.0K |
| Per-bed (high) | $170K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 25 | $67.2M | $14.5M | 18.4% | 20.9% | 0 | 0.73 | 16% | 450 | 44 |
| 2021 | 16 | $84.0M | $28.5M | 30.0% | 32.6% | 0 | 1.12 | 39% | 561 | 31 |
| 2022 | 16 | $74.3M | $14.6M | 17.0% | 19.1% | 0 | 1.21 | 30% | 457 | 34 |
| 2023 | 16 | $81.1M | $19.6M | 22.5% | 23.8% | 0 | 1.15 | 22% | 434 | 31 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Audra Hill Wallace | corporate director | 2018-12 | ||
| Baptist Health South Florida Inc | operational/managerial control | 2010-02 | chain | |
| Bette Brown | corporate director | 2010-02 | ||
| Bobbi Leben | corporate director | 2022-07 | ||
| Cale Smith | corporate director | 2018-12 | ||
| Drew Grossman | corporate officer | 2021-02 | ||
| Drew Grossman | corporate director | 2021-02 | ||
| Jay Hershoff | corporate director | 2010-02 | ||
| Joy Martin | corporate director | 2010-02 | ||
| Mariners Hospital Inc | operational/managerial control | 2010-02 | ||
| Mary Defoor Deloach | corporate director | 2021-07 | ||
| Matthew Arsenault | corporate officer | 2018-09 | ||
| Matthew Arsenault | corporate director | 2018-09 | ||
| Matthew Arsenault | w-2 managing employee | 2018-09 | ||
| Robert Kubic | corporate director | 2025-01 | ||
| Sally Bauer | corporate director | 2019-12 | ||
| Stanley Margulies | corporate director | 2010-02 | ||
| William Gilbert | corporate director | 2018-12 |
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 |
|---|---|---|---|---|
| 2017-07-01 | Fishermen's Health Inc | Fishermen's Hospital, Inc. | Fishermens Hospital | 8 |