Kula Hospital
Kula, Maui County, HI
· CCN 121308
Licensed to Maui Health System A Kaiser Foundation Hospitals Llc
Composite
49.1
rank score
Distress
70
FY2023
Fit
44
vs thesis
Estimated ticket
$536K–$1.1M
9 beds ·
within envelope
Ownership
nonprofit
CAH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- 30-60 days cash on hand
- occupancy 30-45%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- very small facility
- very small ticket — sub-scale as a platform asset
- thin occupancy
- nonprofit — expect AG conversion review
Latest financials · FY2023
| Net patient revenue | $30.0M |
| Operating margin | -31.0% |
| Total margin | -25.8% |
| Days cash on hand | 32 |
| Current ratio | 2.11 |
| Occupancy | 40% |
Facility
| Beds | 9 |
| Facility type | CAH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $59.5K |
| Per-bed (high) | $119K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 9 | $21.7M | $3.6M | -15.8% | 12.5% | 363 | 1.87 | 48% | 13 | 34 |
| 2021 | 9 | $24.5M | $-1.5M | -10.3% | -5.9% | 94 | 1.26 | 30% | 7 | 61 |
| 2022 | 9 | $23.3M | $-15.9M | -71.2% | -66.0% | 12 | 2.22 | 28% | 10 | 76 |
| 2023 | 9 | $30.0M | $-8.1M | -31.0% | -25.8% | 32 | 2.11 | 40% | 13 | 70 |
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 | 2015-12 | |
| Kathryn Lancaster | corporate director | 100 | 2017-07 | |
| Mary Hew | corporate director | 100 | 2017-07 | |
| Maui Health System A Kaiser Foundation Hospitals Llc | operational/managerial control | 100 | 2017-07 | |
| Richard Sutherland | corporate director | 100 | 2017-07 | |
| Stephen Miller | corporate director | 100 | 2017-07 | |
| Tamar Goodfellow | corporate director | 100 | 2021-03 | |
| Wade Ebersole | corporate officer | 100 | 2023-02 | |
| Wade Ebersole | w-2 managing employee | 100 | 2023-02 | |
| Wade Ebersole | operational/managerial control | 100 | 2023-02 | |
| Michael Rembis | corporate officer | 2017-09 | ||
| Michael Rembis | w-2 managing employee | 2017-09 | ||
| Michael Rembis | operational/managerial control | 2017-09 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2017-07-01 | change of ownership | Maui Health System A Kaiser... | Kula Hospital |
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 |
|---|---|---|---|---|
| 2017-07-01 | Maui Health System A Kaiser... | Lanai Community Hospital | Lanai Community Hospital | 4 |
| 2017-07-01 | Maui Health System A Kaiser... | Kula Hospital | Kula Hospital | 9 |