Baptist Health Floyd
New Albany, Floyd County, IN
· CCN 150044
Licensed to Baptist Healthcare System Inc
Composite
65.8
rank score
Distress
76
FY2024
Fit
79
vs thesis
Estimated ticket
$88.9M–$356M
254 beds ·
within envelope
Ownership
nonprofit
STH
Why it ranks here
- operating margin below -10%
- total margin below -8%
- under 30 days cash on hand
- liabilities exceed assets
- margin deteriorating
- urban — higher occupancy and iteration surface
- large — ticket likely stretches the envelope
- ticket size at the top of the envelope — would need leverage
- strong occupancy — good iteration surface
- nonprofit — expect AG conversion review
Latest financials · FY2024
| Net patient revenue | $393M |
| Operating margin | -17.0% |
| Total margin | -12.1% |
| Days cash on hand | 0 |
| Current ratio | 3.92 |
| Occupancy | 68% |
Facility
| Beds | 254 |
| Facility type | STH |
| Setting | urban |
| Ownership class | nonprofit |
| Per-bed (low) | $350K |
| Per-bed (high) | $1.4M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2021 | 216 | $296M | $-23.9M | -10.6% | -7.9% | 1 | 5.68 | 64% | 11,698 | 62 |
| 2022 | 216 | $335M | $-37.3M | -14.6% | -10.8% | 0 | 4.51 | 74% | 11,777 | 67 |
| 2023 | 237 | $356M | $-51.3M | -18.6% | -13.8% | 0 | 5.64 | 66% | 12,519 | 74 |
| 2024 | 254 | $393M | $-49.7M | -17.0% | -12.1% | 0 | 3.92 | 68% | 15,566 | 76 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Baptist Healthcare System Inc | 5% or greater direct ownership interest | 100 | 2016-10 | |
| Alan Redditt | corporate director | 2024-01 | ||
| Bonnie Stith | corporate director | 2020-06 | ||
| Cory Hicks | corporate director | 2024-01 | ||
| Daniel O'hair | corporate director | 2026-01 | ||
| Dwain Morris | corporate director | 2019-01 | ||
| Gerard Colman | corporate officer | 2017-12 | ||
| James Ferriell | w-2 managing employee | 2024-03 | ||
| Janet Norton | corporate officer | 2016-01 | ||
| Jennifer Thomas Kuerzi | corporate director | 2023-01 | ||
| Jonathan Westbrook | corporate director | 2025-01 | ||
| Kirsten Hawley | corporate director | 2025-01 | ||
| Lewis Diaz | corporate director | 2023-01 | ||
| Linda Thomas | corporate director | 2020-01 | ||
| Michael Schroyer | corporate officer | 2020-07 | ||
| Richard Carrico | corporate officer | 2023-02 | ||
| Robert Hook | corporate director | 2026-01 | ||
| Susan Fink | w-2 managing employee | 2016-10 | ||
| Tammy Zimmerman | corporate director | 2018-01 | ||
| William Fultz | corporate director | 2022-01 | ||
| William Shircliff | corporate director | 2022-03 |
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 IN
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 |
|---|---|---|---|---|
| 2025-12-28 | Indiana University Health Inc | Indiana University Health North... | Indiana University Health | 1,274 |
| 2025-12-13 | Union Hospital Inc | Terre Haute Regional Hospital Lp | Union Hospital Inc. | 260 |
| 2025-07-01 | Parkview Logansport Hospital Inc | Memorial Hospital | Memorial Hospital Logansport | 37 |
| 2024-03-01 | Franciscan Health Michigan City | Franciscan Beacon Hospital, Llc | Franciscan Health Michigan City | 133 |
| 2020-11-01 | St Elizabeth Medical Center, Inc | Dearborn County Hospital | St Elizabeth Dearborn | 50 |
| 2019-07-16 | Reid Hospital & Health Care Services Inc | Fayette Memorial Hospital Association Inc | Reid Hospital & Health Care Services | 183 |