Maui Memorial Medical Center
Wailuku, Maui County, HI
· CCN 120002
Licensed to Maui Health System A Kaiser Foundation Hospitals Llc
Composite
47.3
rank score
Distress
50
FY2023
Fit
62
vs thesis
Estimated ticket
$18.6M–$37.2M
219 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin -10% to -5%
- total margin negative
- under 30 days cash on hand
- margin slipping
- rural — cheaper but limited density
- bed count in the target band
- small ticket — deploys little of the available capital
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $329M |
| Operating margin | -7.7% |
| Total margin | -0.8% |
| Days cash on hand | 4 |
| Current ratio | 2.11 |
| Occupancy | 84% |
Facility
| Beds | 219 |
| Facility type | STH |
| 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 | 219 | $253M | $-2.5M | -25.2% | -0.8% | 29 | 1.87 | 77% | 8,096 | 62 |
| 2021 | 219 | $291M | $30.5M | -18.0% | 8.1% | 7 | 1.26 | 82% | 8,536 | 61 |
| 2022 | 219 | $335M | $9.8M | -3.5% | 2.7% | 1 | 2.22 | 84% | 8,631 | 38 |
| 2023 | 219 | $329M | $-2.8M | -7.7% | -0.8% | 4 | 2.11 | 84% | 8,417 | 50 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Anthony Takitani | corporate director | 100 | 2017-07 | |
| Bryan Smith | corporate director | 100 | 2017-07 | |
| John Yamamoto | corporate director | 100 | 2017-07 | |
| Kaiser Foundation Hospitals | 5% or greater direct ownership interest | 100 | 2017-07 | |
| Kathryn Lancaster | corporate director | 100 | 2017-07 | |
| Mary Hew | corporate director | 100 | 2017-07 | |
| Richard Sutherland | corporate director | 100 | 2017-07 | |
| Stephen Miller | corporate director | 100 | 2017-07 | |
| Tamar Goodfellow | corporate director | 100 | 2021-03 | |
| Michael Rembis | corporate officer | 2017-09 | ||
| Michael Rembis | w-2 managing employee | 2017-09 | ||
| Wade Ebersole | corporate officer | 2023-02 | ||
| Wade Ebersole | w-2 managing employee | 2023-02 | ||
| Wade Ebersole | operational/managerial control | 2023-02 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2017-07-01 | change of ownership | Maui Health System A Kaiser... | Maui Memorial Medical Center |
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 |