Kona Community Hospital
dba Kona Hospital ·
Kealakekua, Hawaii County, HI
· CCN 120019
Licensed to Kona Hospital
Composite
52.6
rank score
Distress
68
FY2024
Fit
55
vs thesis
Estimated ticket
$7.1M–$14.1M
83 beds ·
within envelope
Ownership
government
STH
Why it ranks here
- operating margin below -10%
- total margin negative
- under 30 days cash on hand
- liabilities exceed assets
- margin deteriorating
- rural — cheaper but limited density
- bed count in the target band
- very small ticket — sub-scale as a platform asset
- strong occupancy — good iteration surface
- government-owned — public process likely
Latest financials · FY2024
| Net patient revenue | $108M |
| Operating margin | -47.8% |
| Total margin | -0.2% |
| Days cash on hand | 22 |
| Current ratio | 1.68 |
| Occupancy | 73% |
Facility
| Beds | 83 |
| Facility type | STH |
| Setting | rural |
| Ownership class | government |
| 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 |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 83 | $83.4M | $5.6M | -40.7% | 4.3% | 143 | 2.39 | 53% | 2,550 | 46 |
| 2022 | 83 | $96.1M | $-3.4M | -38.0% | -2.5% | 100 | 2.66 | 70% | 2,680 | 51 |
| 2023 | 83 | $105M | $-5.8M | -37.0% | -3.8% | 66 | 2.06 | 82% | 2,726 | 61 |
| 2024 | 83 | $108M | $-303K | -47.8% | -0.2% | 22 | 1.68 | 73% | 3,309 | 68 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Hawaii Health Systems Corporation | 5% or greater direct ownership interest | 100 | 1997-11 | |
| James Lee | corporate officer | 100 | 2020-08 | |
| James Lee | w-2 managing employee | 100 | 2020-08 | |
| Daniel Rick | corporate director | 2008-05 | ||
| David Hiranaka | corporate director | 2020-04 | ||
| Frank Sayre | corporate director | 2014-07 | ||
| Jane Dierenfield | corporate director | 2017-07 | ||
| Jeffry Brinkley | corporate director | 2020-07 | ||
| Laura Bowman | corporate director | 2020-04 | ||
| Mark Nellis | corporate officer | 2021-04 | ||
| Michael Schlueter | corporate director | 2014-07 | ||
| Richard Taaffe | corporate director | 2007-08 | ||
| Sarah Hathaway | corporate director | 2020-07 |
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 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 |