The Queens Medical Center
Honolulu, Honolulu County, HI
· CCN 120001
Licensed to The Queens Medical Center
Already transacted. CMS recorded an ownership change effective
2024-10-08. Confirm the current owner before spending a call on this.
Composite
10.8
rank score
Distress
12
FY2024
Fit
64
vs thesis
Estimated ticket
$67.4M–$135M
674 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin under 2%
- margin deteriorating
- rural — cheaper but limited density
- very large — likely out of range
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
- changed ownership 2024-10-08 — likely already transacted
Latest financials · FY2024
| Net patient revenue | $1.5B |
| Operating margin | 0.7% |
| Total margin | 14.1% |
| Days cash on hand | 284 |
| Current ratio | 2.35 |
| Occupancy | 91% |
Facility
| Beds | 674 |
| Facility type | STH |
| Setting | rural |
| Ownership class | nonprofit |
| Per-bed (low) | $100K |
| Per-bed (high) | $200K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 674 | $1.2B | $279M | -9.8% | 17.3% | 336 | 3.03 | 75% | 27,422 | 22 |
| 2022 | 674 | $1.4B | $-181M | -10.4% | -13.4% | 238 | 2.36 | 81% | 28,499 | 44 |
| 2023 | 674 | $1.4B | $179M | 1.0% | 11.3% | 275 | 2.52 | 89% | 31,309 | 7 |
| 2024 | 674 | $1.5B | $249M | 0.7% | 14.1% | 284 | 2.35 | 91% | 33,202 | 12 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Colleen Kotani | w-2 managing employee | 100 | 2025-01 | |
| The Queen's Health Systems | 5% or greater direct ownership interest | 100 | 1985-05 | |
| Agnes Ngo | corporate director | 2021-01 | ||
| Alexandra Wroe | corporate officer | 2025-01 | ||
| Cameron Nekota | corporate director | 2017-01 | ||
| Clinton Yee | corporate officer | 2013-01 | ||
| Daniel Chun | corporate director | 2025-01 | ||
| Darlena Chadwick | corporate officer | 2022-01 | ||
| Jan Sullivan | corporate director | 2025-01 | ||
| Jason Chang | corporate officer | 2024-07 | ||
| John Nitao | corporate officer | 2021-01 | ||
| Kamani Kualaau | corporate director | 2018-01 | ||
| Kazuma Nakagawa | corporate director | 2021-01 | ||
| Kristi Lefforge | corporate director | 2019-01 | ||
| Kristi Lefforge | other | 2019-01 | ||
| Kyle Chock | corporate director | 2017-01 | ||
| Lynn Babington | corporate director | 2025-01 | ||
| Mary Boland | corporate director | 2023-01 | ||
| Meredith Ching | corporate director | 2023-01 | ||
| Michael Broderick | corporate director | 2023-01 | ||
| Nadine Salle | corporate director | 2018-01 | ||
| Patrick Ching | corporate director | 2025-01 | ||
| Peter Halford | corporate director | 2017-01 | ||
| Robert Dean | corporate director | 2023-01 | ||
| Scott Seu | corporate director | 2023-01 |
Showing 25 of 29. Full list via /api/targets/120001.
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2024-10-08 | acquisition/merger | The Queens Medical Center | Sutter Health Pacific |
Who has been buying in HI
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 |
|---|---|---|---|---|
| 2024-10-08 | The Queens Medical Center | Sutter Health Pacific | The Queens Medical Center | 674 |
| 2017-07-01 | Maui Health System A Kaiser... | Maui Memorial Medical Center | Maui Memorial Medical Center | 219 |