Adventhealth Connerton
Land O Lakes, Pasco County, FL
· CCN 102026
Licensed to University Community Hospital Inc
Composite
55.0
rank score
Distress
43
FY2023
Fit
84
vs thesis
Estimated ticket
$23.1M–$92.4M
77 beds ·
within envelope
Ownership
for-profit
LTCH
Why it ranks here
- operating margin negative
- total margin under 2%
- under 30 days cash on hand
- current ratio under 1.5
- margin slipping
- part of a multi-hospital chain — divestiture candidate
- urban — higher occupancy and iteration surface
- LTCH — distress here is a payment-model artifact
- bed count in the target band
- ticket size somewhat below the envelope
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $49.6M |
| Operating margin | -0.5% |
| Total margin | 0.1% |
| Days cash on hand | 0 |
| Current ratio | 1.17 |
| Occupancy | 90% |
Facility
| Beds | 77 |
| Facility type | LTCH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $300K |
| Per-bed (high) | $1.2M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 77 | $38.2M | $451K | 0.2% | 1.2% | 10 | 1.81 | 78% | 731 | 32 |
| 2021 | 77 | $44.4M | $-18.2K | 1.3% | -0.0% | 39 | 1.96 | 89% | 832 | 31 |
| 2022 | 77 | $43.7M | $-5.2M | -11.1% | -11.9% | 0 | 1.25 | 97% | 1,015 | 70 |
| 2023 | 77 | $49.6M | $66.3K | -0.5% | 0.1% | 0 | 1.17 | 90% | 739 | 43 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Adventist Health System Sunbelt Healthcare Corporation | 5% or greater direct ownership interest | 100 | 2010-09 | chain |
| Amanda Brady | corporate officer | 2020-02 | ||
| Arthenia Joyner | corporate director | 2010-01 | ||
| Brendan Omalley | corporate director | 2008-01 | ||
| Bruce Bergherm | corporate officer | 2021-04 | ||
| Daniel Crunk | contracted managing employee | 2025-03 | ||
| Daniel Crunk | corporate officer | 2025-03 | ||
| Daniel Crunk | operational/managerial control | 2025-03 | ||
| David Huffman | corporate officer | 2020-02 | ||
| David Ottati | corporate officer | 2021-12 | ||
| David Ottati | corporate director | 2021-12 | ||
| Eric Newman | corporate director | 2009-01 | ||
| Erik Wangsness | corporate officer | 2024-12 | ||
| Erik Wangsness | corporate director | 2024-12 | ||
| Fred Meyer | corporate officer | 2023-08 | ||
| Fred Meyer | corporate director | 2010-01 | ||
| Haney Vincent | corporate officer | 2021-04 | ||
| James Santana | operational/managerial control | 2022-01 | ||
| Jeffrey Graff | corporate officer | 2014-09 | ||
| Jose Vivero | corporate director | 2009-01 | ||
| Kurt Stonesifer | corporate director | 2009-01 | ||
| Lynn Addiscott | corporate officer | 2010-06 | ||
| Michael Murrill | contracted managing employee | 2023-07 | ||
| Michael Murrill | corporate officer | 2023-07 | ||
| Michael Murrill | operational/managerial control | 2023-07 |
Showing 25 of 32. Full list via /api/targets/102026.
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 |
|---|---|---|---|---|
| 2019-09-30 | Pam Specialty Hospital Of Sarasota Llc | New Lifecare Hospitals Of Sarasota, Llc | Pam Specialty Hospital Of Sarasota | 40 |
| 2019-04-03 | Select Specialty Hospital - Miami... | Promise Hospital Of Dade, Inc. | Ssh - Miami Lakes | 60 |
| 2019-04-03 | Select Specialty Hospital - The... | Promise Hospital Of Florida At The... | Ssh - The Villages | 40 |
| 2019-04-03 | Select Specialty Hospital - Fort... | Promise Hospital Of Lee, Inc. | Ssh - Fort Myers | 60 |
| 2018-04-01 | Curahealth Jacksonville Llc | Memorial Healthcare Group Inc | Curahealth Jacksonville Llc | 107 |