Centerstone Of Florida Inc.
dba Manatee Glens Corporation ·
Bradenton, Manatee County, FL
· CCN 104040
Licensed to Centerstone Of Florida Inc
Composite
66.8
rank score
Distress
75
FY2024
Fit
82
vs thesis
Estimated ticket
$7.9M–$31.6M
41 beds ·
within envelope
Ownership
nonprofit
PH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- liabilities exceed assets
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- small but workable bed count
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $7.1M |
| Operating margin | -199.6% |
| Total margin | -168.5% |
| Days cash on hand | — |
| Current ratio | 3.34 |
| Occupancy | 68% |
Facility
| Beds | 41 |
| Facility type | PH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $192K |
| Per-bed (high) | $770K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 37 | $5.7M | $-9.9M | -183.8% | -153.0% | — | 1.84 | 75% | 1,666 | 71 |
| 2022 | 37 | $5.7M | $-11.3M | -214.2% | -173.5% | — | 2.59 | 73% | 1,747 | 71 |
| 2023 | 41 | $5.6M | $-13.0M | -247.1% | -203.6% | — | 3.52 | 59% | 1,721 | 74 |
| 2024 | 41 | $7.1M | $-13.3M | -199.6% | -168.5% | — | 3.34 | 68% | 1,957 | 75 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Melissa Larkin-Skinner | corporate officer | 2017-06 | ||
| Roger Johnson | operational/managerial control | 2019-01 | ||
| Sean Gingras | corporate officer | 2012-07 | ||
| Sean Gingras | w-2 managing employee | 2012-07 | ||
| Sean Gingras | operational/managerial control | 2012-07 |
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 |