Northlake Behavioral Health System
Mandeville, St. Tammany Parish County, LA
· CCN 194007
Licensed to Ness Healthcare Nfp
Composite
53.8
rank score
Distress
44
FY2023
Fit
85
vs thesis
Estimated ticket
$38.5M–$154M
140 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin below -10%
- 60-90 days cash on hand
- liabilities exceed assets
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- ticket size uses the capital envelope well
- strong occupancy — good iteration surface
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $22.3M |
| Operating margin | -13.3% |
| Total margin | 3.0% |
| Days cash on hand | 62 |
| Current ratio | 1.88 |
| Occupancy | 64% |
Facility
| Beds | 140 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $275K |
| Per-bed (high) | $1.1M |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 140 | $16.6M | $-1.7M | -16.3% | -9.7% | 48 | 1.64 | 53% | 942 | 74 |
| 2021 | 140 | $13.4M | $-4.4M | -52.9% | -27.3% | 64 | 1.06 | 51% | 894 | 71 |
| 2022 | 140 | $15.8M | $1.4M | -24.3% | 6.6% | 53 | 1.42 | 51% | 702 | 61 |
| 2023 | 140 | $22.3M | $796K | -13.3% | 3.0% | 62 | 1.88 | 64% | 1,056 | 44 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Brian Hemmert | w-2 managing employee | 100 | 2018-09 | |
| Ness Healthcare Nfp | 5% or greater direct ownership interest | 100 | 2016-11 | |
| Anatoliy Shir | corporate officer | 2016-11 | ||
| Brian Hemmert | corporate officer | 2018-08 | ||
| Brian Hemmert | operational/managerial control | 2018-08 | ||
| Franklin Kellman | corporate director | 2016-11 | ||
| Michael Kuzmenko | corporate officer | 2016-11 | ||
| Michael Messing | corporate director | 2016-11 | ||
| Michael Tarnoff | corporate director | 2016-11 |
Ownership changes
| Date | Type | Buyer | Seller |
|---|---|---|---|
| 2016-11-10 | change of ownership | Ness Healthcare Nfp | Mbh Of Louisiana, Llc |
Who has been buying in LA
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 |
|---|---|---|---|---|
| 2020-05-22 | Tdpk, Llc | Cypress Grove Behavioral Health Llc | Cypress Grove Behavioral Health | 60 |
| 2016-11-10 | Ness Healthcare Nfp | Mbh Of Louisiana, Llc | Northlake Behavioral Health System | 140 |