Circles Of Care Inc.
dba Circles Of Care Inc ·
Melbourne, Brevard County, FL
· CCN 104024
Licensed to Circles Of Care Inc
Composite
52.5
rank score
Distress
37
FY2024
Fit
90
vs thesis
Estimated ticket
$47.3M–$189M
172 beds ·
within envelope
Ownership
nonprofit
PH
Why it ranks here
- operating margin below -10%
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size uses the capital envelope well
- moderate occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $25.4M |
| Operating margin | -93.0% |
| Total margin | 9.8% |
| Days cash on hand | 301 |
| Current ratio | 5.94 |
| Occupancy | 50% |
Facility
| Beds | 172 |
| Facility type | PH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $275K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 172 | $24.4M | $8.0M | -65.3% | 16.5% | 356 | 7.29 | 54% | 1,462 | 30 |
| 2022 | 172 | $24.1M | $-2.8M | -78.3% | -6.9% | 124 | 2.60 | 47% | 1,126 | 47 |
| 2023 | 172 | $26.2M | $3.8M | -85.9% | 7.3% | 276 | 5.52 | 51% | 1,414 | 30 |
| 2024 | 172 | $25.4M | $5.3M | -93.0% | 9.8% | 301 | 5.94 | 50% | 1,593 | 37 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Stephen Lord | corporate officer | 100 | 2011-03 | |
| Fallon Derosa | corporate director | 2017-06 | ||
| Fallon Derosa | w-2 managing employee | 2017-06 | ||
| Henry Lin | corporate officer | 2025-02 | ||
| Iris Garcia | corporate director | 2019-11 | ||
| Lynette Olsen | corporate director | 2020-04 | ||
| Tonya Dix | corporate officer | 2023-07 |
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 |
|---|---|---|---|---|
| 2025-07-01 | 9001 Tamiami Trail Opco, Llc | Willough Healthcare Inc | The Willough At Naples | 87 |
| 2019-06-03 | Southern Winds Hospital Llc | Southern Winds Health Llc | Southern Winds Hospital Llc | 72 |