Seaside Health System
Baton Rouge, LA
· CCN 194103
Licensed to Seaside Health System Llc
Composite
55.8
rank score
Distress
60
FY2023
Fit
72
vs thesis
Estimated ticket
$15.0M–$59.8M
64 beds ·
within envelope
Ownership
for-profit
PH
Why it ranks here
- operating margin under 2%
- under 30 days cash on hand
- current ratio below 0.8
- liabilities exceed assets
- occupancy 45-60%
- margin deteriorating sharply
- urban — higher occupancy and iteration surface
- specialty facility — narrower problem scope
- bed count in the target band
- small ticket — deploys little of the available capital
- moderate occupancy
- for-profit — no charitable conversion review
Latest financials · FY2023
| Net patient revenue | $15.7M |
| Operating margin | 1.7% |
| Total margin | 9.7% |
| Days cash on hand | 10 |
| Current ratio | 0.37 |
| Occupancy | 55% |
Facility
| Beds | 64 |
| Facility type | PH |
| Setting | urban |
| Ownership class | for-profit |
| Per-bed (low) | $234K |
| Per-bed (high) | $935K |
Financial history
| FY | Beds | Net patient rev | Net income | Op margin | Total margin | Days cash | Current ratio | Occupancy | Discharges | Distress |
|---|---|---|---|---|---|---|---|---|---|---|
| 2020 | 64 | $14.6M | $2.7M | 8.4% | 16.9% | 0 | 4.18 | 54% | 2,001 | 24 |
| 2021 | 64 | $16.9M | $3.2M | 18.5% | 18.8% | 16 | 0.74 | 69% | 2,505 | 43 |
| 2022 | 64 | $13.0M | $1.5M | 3.4% | 10.7% | 11 | 0.46 | 49% | 1,793 | 49 |
| 2023 | 64 | $15.7M | $1.7M | 1.7% | 9.7% | 10 | 0.37 | 55% | 1,909 | 60 |
Owners
| Owner | Role | % | Since | Type |
|---|---|---|---|---|
| Seaside Healthcare Bh Llc | 5% or greater indirect ownership interest | 100 | 2025-05 | |
| Seaside Management, Llc | 5% or greater direct ownership interest | 100 | 2022-12 | |
| Philipson Family Limited Liability Company, Llc | 5% or greater indirect ownership interest | 40 | 2025-05 | |
| Rap Family Trust | 5% or greater indirect ownership interest | 40 | 2025-05 | |
| Agrp 2011 Trust | 5% or greater indirect ownership interest | 20 | 2025-05 | |
| Deborah Philipson 2011 Family Trust | 5% or greater indirect ownership interest | 20 | 2025-05 | |
| Daniel Schaffer | 5% or greater indirect ownership interest | 15 | 2025-05 | |
| Jeremie Paritzky | 5% or greater indirect ownership interest | 5 | 2025-05 | |
| Clay Aguillard | w-2 managing employee | 2025-05 | ||
| Daniel Schaffer | corporate officer | 2025-05 | ||
| Daniel Schaffer | w-2 managing employee | 2025-05 |
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 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 |